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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Enlarged City School District of Troy – Budget Review (B5-12-16)


Released: April 30, 2012 -- [read complete report - pdf]

Purpose of Audit

The purpose of our budget review was to determine whether the significant revenue and expenditure projections in the District’s tentative budget for the 2012-13 fiscal year are reasonable.

Background

The Enlarged City School District of Troy, located in County, issued debt totaling $14,472,603 to liquidate the accumulated deficit in the District’s general fund as of June 30, 2002. Local Finance Law requires that all local governments that have been authorized to issue obligations to fund operating deficits submit their tentative budgets for the next fiscal year to the State Comptroller for review while the deficit obligations are outstanding.

Key Findings

  • Based on the results of our review, we found the significant revenue and expenditure estimates in the proposed budget, to be reasonable.
  • The District’s proposed budget complies with the property tax law.

Key Recommendations

  • There are no recommendations for this report.

Local Government and School Accountability Contact Information:

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