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NYS Comptroller


Audits of Local Governments and School Districts

Ticonderoga Central School District – Financial Condition (2013M-154)

Released: August 30, 2013 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the District’s financial condition for the period of July 1, 2010, through December 31, 2012.


The Ticonderoga Central School District is located in portions of the Towns of Ticonderoga, in Essex County, and Hague, in Warren County. The District is managed by a Board of Education comprising nine elected Board members.

Key Findings

  • In recent years the District has struggled with fiscal challenges due to a deteriorating financial condition. We found that the Board adopted budgets that limited costs and tax increases. The Board balanced its budgets with appropriations of unexpended surplus funds and reserves. As a result, by the end of the 2011-12 fiscal year, the District had only $10,000 remaining in reserves, and an unexpended surplus fund balance of $384,362. To meet short-term cash flow needs, the District borrowed $1.1 million at the beginning of the 2012-13 fiscal year.
  • While the Board has taken steps to attempt to address its declining financial position, we found that the Board has not developed a multiyear financial plan to improve the budget development process.

Key Recommendations

  • Continue to ensure that future budgets are structurally balanced, closely monitor financial operations and take appropriate action to establish and maintain the District’s financial stability.
  • Develop and regularly update a multiyear financial plan to provide a framework for future budgets and facilitate the District’s management of financial operations.

Local Government and School Accountability Contact Information:

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