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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Hoosick Falls Central School District - Financial Condition Management (2019M-159)

Released: December 6, 2019 -- [read complete report - pdf]

Audit Objective

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

Key Findings

  • The Board authorized fiscal year-end interfund transfers totaling $1.2 million to be used for a capital project which had not yet been approved by District voters.
  • District officials overestimated appropriations from 2015-16 through 2018-19. We project appropriations were estimated more reasonably in 2019-20 but certain account lines continued to be overestimated.
  • Unrestricted fund balance ranged between 5.9 and 9.8 percent of ensuing years’ appropriations, exceeding the 4 percent statutory limit.

Key Recommendations

  • Discontinue the practice of reducing unrestricted fund balance by making un-budgeted year-end interfund transfers.
  • Develop realistic estimates of appropriations.
  • Adopt a written plan to use excess fund balance to benefit District taxpayers.

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

Background

The Hoosick Falls School District (District) serves the Towns of Grafton, Hoosick, Petersburgh and Pittstown in Rensselaer County and White Creek in Washington County.

The seven-member elected Board of Education (Board) is responsible for the general management and control 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
Employees244
2018-19 Enrollment1,145
2019-20 Budgeted Appropriations$23.3 million

Audit Period

July 1, 2015 to April 30, 2019

We extended our audit scope period forward to June 30, 2019 to review actual year-end expenditures for the 2018-19 fiscal year.


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