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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Middleburgh Central School District – Financial Condition (2013M-206)


Released: November 22, 2013 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the District’s financial condition for the period July 1, 2011, to June 30, 2013.

Background

The Middleburgh Central School District is located in Schoharie and the Albany Counties. The District is governed by the Board of Education which comprises five elected members. The District’s general fund budget for the 2013-14 fiscal year is approximately $20.2 million.

Key Findings

  • Although the Board and District management believed they were effectively managing the District’s financial condition, budgeting decisions over the last several years have made the District susceptible to fiscal stress. Even though District officials had knowingly generated surpluses in the past to prepare for economic difficulties, they have come to rely on using surplus funds to finance operations, and are close to depleting those funds.
  • District officials did not update the District’s long-term financial plan to address how they will fund the budgets without the continued use of fund balance.

Key Recommendations

  • Carefully consider the amount of fund balance appropriated to fund future budgets.
  • Adopt and implement a comprehensive long-term financial plan for the District and update it annually.

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