Teaneck School Board Ordered to Fix Six Accounting Issues Following Audit

the staff of the Ridgewood blog

Teaneck NJ, the Teaneck Board of Education has been directed to correct six ongoing accounting issues flagged in a recent audit report—the same issues that were cited in the previous year’s audit for the fiscal year ending June 30, 2024.

Repeated Financial Issues Raise Concerns

The audit, conducted by Lerch, Vinci & Bliss, was presented by Elizabeth Schick at the Feb. 5 work session. Five of the six repeated issues were found in the Financial Planning, Accounting, and Reporting section.

The full audit presentation is available on the school district’s website, and detailed findings can be found on pages 23-28 of the Feb. 5 meeting agenda.

Who’s Responsible for the Fix?

The report holds Business Administrator Victor Anaya accountable for making the necessary corrections. However, Anaya only recently joined the district, replacing Haqquisha Taylor, who served as business administrator from March 2023 to August 2024—when the issues originally occurred.

What Needs to Be Fixed?

Key audit recommendations include:

• Implementing an Excel reconciliation of payroll activity
• Ensuring balance sheet accounts are properly reviewed and reconciled with subsidiary ledgers and reports

Progress and Unresolved Issues

Last year’s audit identified 12 areas for improvement. According to Superintendent Andre Spencer, six have been resolved, while two will be completed by March and the remaining four by year-end (June to August 2025).

Despite these updates, neither Superintendent Spencer nor Board President Edward Ha have provided clarity on why six of last year’s 12 recommendations remain unresolved.

Teaneck’s School Budget & Funding

The Teaneck School District operates eight schools serving 3,805 students, with an annual budget of $124 million. The majority of funding—$100 million (80.9%)—comes from municipal property taxes.

According to Chief Financial Officer Issa Abbasi, public schools account for 55% of Teaneck’s property tax dollar, followed by municipal expenses (32%).

What’s Next for Teaneck Schools?

With persistent financial issues flagged in back-to-back audits, the pressure is on the school board to ensure transparency, accountability, and proper financial oversight. The community will be watching closely to see if these corrections are fully implemented before the next audit.

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