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September 5, 2013, Contact: Press Office (518) 474-4015

 

 

Comptroller DiNapoli Releases School Audits


New York State Comptroller Thomas P. DiNapoli today announced his office completed audits of the Hendrick Hudson Central School District, Oneonta City School District and the Ticonderoga Central School District.

“My office’s audits of school districts, charter schools and BOCES help schools improve their financial management practices,” DiNapoli said. “These audits are tools for schools to make sure proper policies and procedures are in place to protect taxpayer dollars and provide students with the best possible education.”

Hendrick Hudson Central School District – Financial Condition (Westchester County)
District officials developed reasonable budgets and managed fund balance responsibly. Although the district’s fund balance has decreased significantly over the past five years, from $8.5 million beginning in 2009 to $4.6 million in 2013, the district is not currently in fiscal stress. The decline resulted from the district’s planned operating deficits and planned use of moneys from its tax stabilization reserve.

Oneonta City School District – Financial Condition (Otsego County)
School district officials developed reasonable budgets and monitored the budgets throughout the year to properly manage the district’s financial condition. Since 2010, total state aid received by the district has declined more than $1 million and revenues, other than real property taxes, declined approximately $1.3 million. To offset these reductions, the district increased its real property tax levy, cut expenditures by $500,000, and used more than $400,000 of its available surplus.

Ticonderoga Central School District – Financial Condition (Essex County)
The school district has struggled in recent years with fiscal challenges due to a deteriorating financial condition. The heavy reliance on unexpended surplus funds and reserves in recent years has resulted in significant reductions to the fiscal year-end balances. While the school board has taken steps to attempt to address its financial position, the district has not developed a multiyear financial plan.

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For access to state and local government spending and nearly 50,000 state contracts, visit http://www.openbooknewyork.com/. The easy-to-use website was created by Comptroller DiNapoli to promote openness in government and provide taxpayers with better access to the financial workings of government.