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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


Shoreham-Wading River Central School District – Financial Management (2017M-75)


Released: June 16, 2017 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the District’s financial condition for the period July 1, 2013 through December 31, 2016.

Background

The Shoreham-Wading River Central School District is located in the Towns of Brookhaven and Riverhead, Suffolk County. The District, which is governed by an elected seven-member Board of Education, operates five schools with approximately 2,250 students. Budgeted appropriations for the 2016-17 fiscal year total approximately $72.7 million.

Key Findings

  • The Board has not adopted budgets with reasonable expenditure and fund balance appropriations.
  • The Board appropriated fund balance and reserves that it did not actually need to fund operations.
  • The District’s unassigned fund balance was nearly 11 percent of the ensuing year’s appropriations, exceeding the statutory limit by almost 7 percentage points.

Key Recommendations

  • Develop realistic estimates of appropriations and the use of fund balance in the annual budget.
  • Discontinue the practice of adopting budgets that result in the appropriation of unassigned fund balance and reserves that are not needed to fund District operations.
  • Use surplus fund balance in a manner that benefits District residents.

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