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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Monticello Central School District – Budgeting (2014M-97)


Released: September 5, 2014 -- [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, 2012 through October 2, 2013.

Background

The Monticello Central School District is located in the Towns of Bethel, Fallsburgh, Forestburgh, Mamakating and Thompson in Sullivan County. The District is governed by an elected nine-member Board of Education and operates five schools with approximately 3,100 students. General fund budgeted appropriations for the 2013-14 fiscal year totaled approximately $80.2 million.

Key Findings

  • Budget estimates for revenues and appropriations have not been aligned with historical or actual needs of the District, resulting in an unnecessary burden on taxpayers.
  • Unexpended surplus fund balance exceeds the statutory maximum and continues to grow.
  • Some of the District’s reserve funds are funded at levels higher than necessary.

Key Recommendations

  • Develop realistic budgets that are consistent with the District’s actual revenues and expenditures to avoid raising more real property taxes than necessary.
  • Reduce the amount of unexpended surplus fund balance in a manner that benefits District taxpayers and ensure that the amount is in compliance with statutory limits.
  • Establish policies relating to reserves, review all reserve balances and transfer excess funds to unrestricted fund balance or other reserves in compliance with statutes.

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