Press Release from Ed Hatchett, Release Date: March 1, 2001 Audit online at: http://www.auditor.ky.gov/Public/Audit_Reports/Archive/2000BadgettRCEEaudit.pdf |
Commonwealth of Kentucky |
|
(Frankfort - March 1, 2001)
The Badgett Regional Cooperative for Educational Enhancement, Inc. (BRCEE) received an unqualified auditor's opinion for the year ending June 30, 2000, although the co-op was cited for not adequately collateralizing its public deposits.
Co-op's public deposits not adequately collateralized BRCEE has 11 member school districts and an annual budget of $3.2 million. The CPA firm of York, Neel & Company-Madisonville, LLP, performed the audit for the State Auditor's office. BRCEE owns land, buildings, and equipment with a depreciated value in excess of $250 thousand. It is one of only three co-ops that own real estate. BRCEE is one of nine Kentucky school co-ops required to be audited under a bill passed during the 2000 General Assembly. The bill makes the State Auditor responsible for the audits and permits private CPAs to perform the fieldwork. |
|
|
|