DiNapoli: Roosevelt UFSD on Track to End
2008-09 Year With $6.6 Million Surplus
Expenditures Under Budget By $11.6 Million
Roosevelt Union Free School District is on track to end fiscal year 2008-09 with a $6.6 million operating surplus, partially due to the district spending $11.6 million less than it budgeted for, according to an audit released today by State Comptroller Thomas P. DiNapoli. DiNapoli’s office has provided real-time fiscal monitoring of the school district to ensure the district controlled spending and did not overspend its 2008-09 budget.
“District officials must continue to closely monitor spending so that students and taxpayers can benefit from a more fiscally sound school district,” DiNapoli said. “While there is still room for improvement, the district is in a much better financial position today than two years ago. District officials should also spend all of the grant funds it received from the state to benefit the district’s students. The use of these state taxpayer funds should not be delayed any longer.”
The audit found the district reduced expenses by $2.3 million by not filling open administrative, human resources and other vacant positions. In addition, the district reduced instructional costs by almost $2.9 million by leaving teaching, librarian, aide and director positions vacant. Auditors also found the district’s revenues exceeded budgeted estimates by $3.1 million.
While the district could end the year with $21.1 million in accumulated fund balance, the district plans to reduce the fund balance to $8.6 million by:
- using $1.4 million in state grant money given to the district in 2007-08 to fund academic improvement programs;
- appropriating $2.5 million to finance 2009-10 operations;
- using $1.7 million to fund 2009-10 academic improvement expenses;
- allocating $3.95 million to establish and fund four reserve funds; and
- maintaining $3 million in the employee benefits accrued liability reserve fund.
The audit also found the district:
- did not follow its budget transfer policy for 16 journal entries totaling $1 million;
- overspent 67 budget codes by approximately $1 million; and
- did not balance its special aid fund as revenues were estimated to be $94,667 less than budgeted appropriations.
DiNapoli’s audit recommends that district officials:
- continue to monitor and reduce its unreserved, unappropriated general fund balance;
- ensure that budget transfers follow district policy;
- make necessary budget transfers to accounts that are over-expended;
- ensure that the special aid fund is balanced.
Click here for a copy of the audit.
School District Accountability
In order to improve accountability of the state’s schools, DiNapoli’s office will audit all of New York’s school districts and Boards of Cooperative Educational Services by 2010. The State Comptroller’s office has completed 640 school audits and approximately 85 school audits are currently underway.