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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Waterford-Halfmoon Union Free School District - Financial Management (2017M-243)

Released: June 15, 2018 -- [read complete report - pdf]

Audit Objective

Determine whether the Board properly managed District finances by adopting realistic budgets.

Key Findings

  • The Board overestimated appropriations by an average of nearly $2.8 million annually from 2014-15 through 2016-17, which resulted in appropriated fund balance not being used.
  • The 2015-16 unrestricted fund balance exceeded statutory limitations.

Key Recommendations

  • Adopt budgets that include realistic estimates for expenditures.
  • Develop a plan for the use of excess unrestricted fund balance in the general fund.

District officials generally agreed with our recommendations and have initiated, or indicated they planned to initiate, corrective action.

Background

The Waterford-Halfmoon Union Free School District (District) is located in the Towns of Waterford and Halfmoon in Saratoga County. The seven-member Board of Education (Board) is responsible for the general management of the District’s financial and educational affairs.

The Superintendent of Schools (Superintendent) is the District’s chief executive officer and is responsible, along with other administrative staff, for the District’s day-to-day management under the Board’s direction.

Quick Facts
# of Employees 170
Student Enrollment 890
2017-18 Budgeted Appropriations $21 million

Audit Period

July 1, 2014 – July 31, 2017


Local Government and School Accountability Contact Information:

Phone: (518) 474-4037; Email: localgov@osc.ny.gov
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236