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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Elmira City School District – Financial Condition (2014M-348)


Released: March 6, 2015 -- [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, 2011 through September 24, 2014.

Background

The Elmira City School District is located in the City of Elmira and the Town of Elmira, Chemung County. The District, which is governed by an elected nine-member Board of Education, operates 11 schools with approximately 6,500 students. Operating expenditures for the 2013-14 fiscal year totaled approximately $105 million.

Key Findings

  • The Board and District officials have not appropriately budgeted revenues and appropriations.
  • The District’s reserve policy does not include details related to the various reserves’ purposes, use or funding.
  • The District’s multiyear financial plan does not include information related to funding and use of reserves or the level of fund balance.

Key Recommendations

  • Adopt budgets that reflect the District’s actual needs based on historical trends or other identified analysis.
  • Adopt a comprehensive reserve policy that clearly communicates the purpose and intent for establishing each reserve fund and the manner in which each reserve will be funded, used and maintained.
  • Develop a multiyear financial plan that is sustainable and includes information related to anticipated funding and use of reserves and the appropriation of fund balance.

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