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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Connetquot Central School District - Financial Management (2019M-180)

Released: November 1, 2019 -- [read complete report - pdf]

Audit Objective

Determine whether the Board and District officials effectively managed the District’s financial condition.

Key Finding

  • The District reduced its total fund balance by $12.3 million (20 percent) from June 30, 2017 to June 30, 2019. However, its unassigned fund balance remains at $8 million,1 0.1 percentage points above the statutory limit.

Key Recommendations

  • Review the District’s plan to continue reducing its surplus of unassigned fund balance to comply with the statutory limit in a manner that benefits District taxpayers.
  • Develop budgets that include realistic estimates for revenues, appropriations and unassigned fund balance based on historical data and known trends.
  • Adopt a comprehensive reserve policy that communicates the purpose and intent for establishing each reserve fund levels and conditions under which each fund’s assets will be used or replenished.

District officials generally agreed with our report and indicated they plan to initiate corrective action.

Background

The Connetquot Central School District (District) is located in the Town of Islip in Suffolk County.

The five-member Board of Education (Board) is responsible for managing financial and educational affairs. The School Superintendent is responsible for day-to-day District management and budget development. The Assistant Superintendent for Business and Operations (ASBO) is responsible for the District’s business activities and operations.

Quick Facts
2018-19 Employees1,353
2018-19 Enrollment5,709
2018-19 General Fund Expenditures$188 million
2018-19 Year-End Unassigned Fund Balancea$8 million
a As per draft of audited financial statements

Audit Period

July 1, 2016 – June 30, 2019


1 As per an October 28, 2019 draft of the 2018-19 audited financial statements.


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