Firm sought to review Freetown-Lakeville school district finances

LAKEVILLE -- An accounting firm  is being sought to review the Freetown-Lakeville Regional School District’s finances during a three-year period.

A request for proposals for anyone interested has been issued, John Higgins, Director of Finance for the district, told members of the Freetown-Lakeville Regional School Committee at their Aug. 6 meeting at Apponequet Regional High School.

The review would cover the period from July 1, 2022 to June 30, 2025.

During this period, the district experienced “significant turnover within its central office, resulting in several key administrative positions being filled by interim personnel, part-time staff and newly hired employees,’’ according to the proposal.

When the fiscal 2025 budget was developed, omissions were noted within the proposed the budget, the proposal states.

The budget omission was corrected through a budget transfer process that was presented and approved by the school committee.

The district’s annual independent financial statement audit found “deficiencies and material weakness in internal controls,’’ according to the proposal’s wording. 

This financial review aims to “promote transparency, financial oversight and identify opportunities to improve internal control and financial management practices,’’ according to the wording of the proposal.

The call for a financial review was supported by the Freetown-Lakeville Regional Finance Committee, which includes representatives from both towns’ select boards, finance committees and the regional school committee.

How much this will cost and how that cost will be borne has yet to be determined, Higgins said.

Once the cost is determined, the district will look into possible cost-sharing with the two towns, he said.