MAYVILLE - A recent meeting of Chautauqua Lake Central School district's board was highlighted by a report from the external auditor, Michael Corey.
In his report, Corey noted that the district would be saving more than $1 million over the next 10 years, as a result of reissuing bonds which had financed the current building, opened in 2000.
Business manager Dave Thomas elaborated that the reissuance was done with the guidance and assistance of the state. The retired bonds, which had a rate of about 5 percent, were replaced by newly issued bonds with a rate close to 3 percent, resulting in the very substantial savings of both principal and interest.
The audit report noted that the district spent less than it had budgeted in the 2012-13 academic year and ended the year with slightly more in its undesignated fund balance than the recommended 4 percent of budget. Overall, however, the audit was described as "clean."
In other business, the board added four substitute teachers to the district's list of certified substitutes, and approved Interscholastic Athletics Sharing Agreements with Panama Central School for boys' swimming and wrestling, and with Westfield Central School for wrestling.