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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Patchogue-Medford Union Free School District – Budget Review (B7-12-1)


Released: March 9, 2012 -- [read complete report - pdf]

Purpose of Audit

The purpose of our budget review was to determine whether the significant revenue and expenditure projections in the District’s tentative budget for the 2012-13 fiscal year are reasonable.

Background

Patchogue-Medford Union Free School District (District), which is located in Suffolk County, issued debt totaling $6 million to liquidate an accumulated deficit in the District’s general fund as of June 30, 2006. Local Finance Law requires that all local governments that have been authorized to issue obligations to fund operating deficits submit their tentative budgets for the next fiscal year to the State Comptroller for review while the deficit obligations are outstanding.

Key Findings

  • We found that the significant revenue and expenditure projections in the District’s tentative budget are reasonable.
  • District officials are planning to use $6 million in fund balance to help finance operations in 2012-13. They should closely monitor the District’s fund balance and act to identify other financing sources if fund balance is no longer available to help pay for operations.
  • The District’s proposed budget complies with the 2 percent tax levy limit.

Key Recommendations

  • There are no recommendations in this budget review letter.

Local Government and School Accountability Contact Information:

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