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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Dryden Central School District – Financial Condition (2013M-396)


Released: April 18, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to determine whether the Board of Education adopted reasonable budgets for the period July 1, 2012 through October 17, 2013.

Background

The District is located in Cortland, Tioga and Tompkins Counties and is governed by the Board of Education, comprised of nine elected members. The District’s operating budget is approximately $35.3 million for the 2013-14 fiscal year.

Key Findings

  • The Board did not adopt reasonable budgets and unexpended surplus funds exceeded the statutory limit.
  • While the District’s total fund balance increased by $5.2 million due to operational surpluses over the past five completed fiscal years, the Board transferred $3.1 million of this amount to various reserves.

Key Recommendations

  • Ensure that the amount of the District’s unexpended surplus fund balance is in compliance with the Real Property Tax law statutory limits.
  • Review all reserve balances and determine if the amounts reserved are necessary, reasonable and in compliance with statutory requirements.

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