Purpose of Budget Review
The purpose of our budget review was to provide an independent evaluation of the District’s proposed budget for the 2019-20 fiscal year.
The Chenango Valley Central School District is located in Broome County. Chapter 260 of the Laws of 2008 authorizes the District to issue debt in an aggregate principal amount not to exceed $3.5 million to liquidate the accumulated deficit in the District’s general fund and food service fund as of June 30, 2008. New York State Local Finance Law Section 10.10(d) requires municipalities and school districts that have been authorized to issue obligations to fund operating deficits to submit to the State Comptroller each year, starting with the fiscal year during which the municipality or school district is authorized to issue obligations and for each subsequent fiscal year during which the deficit obligations are outstanding, their proposed budget for the next succeeding fiscal year.
- We found that the significant revenue and expenditure projections and appropriations of fund balance and reserves in the proposed budget are reasonable.
- This budget review did not contain any recommendations.