Press Releases
CONTACT:
Press Office
(518) 474-4015

 FOR RELEASE:

Immediately
February 25, 2009

 

DiNapoli: Roosevelt UFSD Exceeds Revenue
Projections and is Staying Within Budget

Board Made Effort to Reduce Taxes

 

Roosevelt UFSD is on track to exceed revenue projections and stay within its budgeted expenditure limits, according to an audit of the district’s second quarter, released by State Comptroller Thomas P. DiNapoli. The school board appropriated $2 million from the district’s fund balance in an effort to hold down property taxes in 2008-09, according to the report. DiNapoli’s office has been providing real-time fiscal monitoring of the school district to ensure the district is controlling spending and staying within budgeted amounts.

“Roosevelt officials have made real progress toward repairing the district’s financial picture,” DiNapoli said. “This is good news, and we’ll continue to provide ongoing assistance to the district as it moves toward fiscal stability.”

Although the new audit contained good news, DiNapoli’s audit also identified areas of needed improvement, including:

  • officials were still charging encumbrances and expenses against budget line codes with no budgeted appropriations. As a result, 87 account codes appeared to be over-expended by approximately $11.5 million. This makes it difficult to properly monitor account activity;
  • although the district received $6 million in Academic Improvement Grant (AIG) funds, it created only four budget account codes for specific academic improvement purposes with expenses totaling $1.2 million and encumbrances totaling $347,458. That being said it appears as though District officials are taking measures to ensure that the AIG money is used for its intended purpose to enhance academic programs; and
  • officials are charging current year salaries to special aid fund appropriations from grants that expired as of June 30, 2008. Officials have not updated the accounting records to show estimated special aid fund revenues for three grants totaling $216,024. Also, the district’s revised special aid fund budget is not balanced: estimated revenues are less than budgeted appropriations by $59,937.

DiNapoli recommended that district officials:

  • make necessary budgetary transfers of appropriations to accounts that are over-expended, and in the future, ensure appropriations are available before funds are encumbered or expended;
  • continue to take measures to ensure that the AIG funds are used for the intended purpose including making a determination of the intended expenditure for the $861,000 in remaining AIG funds;
  • ensure that available appropriations for grant programs from the prior year are carried forward to the current year;
  • ensure that estimated Special Aid fund revenues and budgeted expenditures are equal; and
  • update the accounting records for awarded grant programs to reflect the current status of anticipated revenues and expenditures.

Click here to view the report.

School District Accountability
In order to improve accountability of the state’s schools, DiNapoli’s office will audit all of New York’s 834 school districts, Board of Cooperative Educational Services and charter schools by 2010. The State Comptroller’s office has completed 550 school audits and approximately 180 school audits are currently underway.

###

Albany Phone: (518) 474-4015 Fax: (518) 473-8940
NYC Phone: (212) 681-4840 Fax: (212) 681-7677
Internet: www.osc.state.ny.us
E-Mail: press@osc.state.ny.us