The Great Neck Public Schools Board of Education has proposed a new policy on fiscal accounting and reporting. Submitted for a first reading at the board's July summer organizational/reorganizational meeting, this policy actually follows current practice in the school district.

According to board trustee Barbara Berkowitz, chair of the policy committee, the new policy "comports to school district policy." However, Ms. Berkowitz noted that in light of the financial scandals in Roslyn the district needs to put this practice into real policy. "We need a policy in place," she said.

Board President Lawrence Gross suggested an addition (noted below in parenthesis) and Ms. Berkowitz agreed that it would be added.

The proposed policy on fiscal accounting and reporting reads as follows: "The board of education requires clear, complete, and detailed accounting of all district financial transactions.

"The system of accounts will conform to the Uniform System of Accounts for school districts. The accounting system will yield information necessary for the board to make policy decisions.

"Proposed expenditures will be budgeted under and the actual expenditures will be charged to categories that most accurately describe the purpose for which monies are spent.

"The board directs the superintendent of schools to keep it informed of the financial status of the district through monthly and annual reports. The superintendent should highlight deviations in actual fiscal conditions from planned fiscal conditions and advise if action is needed. The chief school business administrator will prepare and submit to the board and the commissioner of education, through the superintendent, such reports as are prescribed by law. These shall be filed with appropriate governmental bodies as required under law or regulation.

"The district shall be audited annually by an independent certified public accountant. The auditor's report shall be submitted directly to the board of education and adopted by resolution. A copy shall be filed with the commissioner of education.

"The superintendent is hereby directed to act in response to all audit findings and recommendations (and to report all such actions to the board of education).

"The superintendent shall also ensure that the provisions contained in the General Municipal Law in regard to audit reports are followed."

Since this was only a first reading, no action was taken. The proposed policy on fiscal accounting and reporting will come back for a second reading, and presumably a third reading and possible adoption, in the fall, when school re-opens.

The board of education is scheduled to meet next for a public action meeting on Monday evening, Sept. 19, at 8:30 p.m., at the Great Neck South High School library.