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NYS Comptroller


Audits of Local Governments and School Districts

Mayfield Central School District – Financial Condition (2012M-46)

Released: July 13, 2012 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the District’s financial condition for the period July 1, 2010, to November 17, 2011.


The Mayfield Central School District is located in the Towns of Broadalbin, Johnstown, Mayfield and Northampton, in Fulton County. The District is governed by the Board of Education which comprises five elected members. The District’s general fund expenditures for the 2010-11 fiscal year were $16.4 million.

Key Finding

  • Although the District had fund balance in excess of the statutory limit for the fiscal years ended June 30, 2007 through June 30, 2009, the Board and District officials have taken appropriate action to reduce the fund balance below this statutory limit for the fiscal years ended June 30, 2010 and June 30, 2011. The Board has accomplished this by establishing reserves, and by using more of the fund balance that it had appropriated, as planned. The District is now facing increasingly difficult financial decisions as State and Federal aid is reduced, and expenditures for health insurance and retirement continue to rise. Also, starting this year, the District is required to comply with the 2 percent property tax levy cap. These developing issues will require sound budgeting practices and financial planning in the coming years.

Key Recommendation

  • Develop, adopt and implement a comprehensive long-term financial plan for the District and update it annually. Carefully monitor results to identify potential fiscal difficulties, such as structural imbalances between revenues and expenditures, in a timely manner.

Local Government and School Accountability Contact Information:

Phone: (518) 474-4037; Email:
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236