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NYS Comptroller


Audits of Local Governments and School Districts

Schenevus Central School District – Budgeting (2014M-123)

Released: July 25, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the Town’s financial condition for the period July 1, 2012 through December 18, 2013.


The Schenevus Central School District is located in the Towns of Decatur, Maryland, Milford, Rosenboom and Westford in Otsego County. The District is governed by an elected five-member Board of Education and operates one school with approximately 365 students. Budgeted appropriations for the 2013-14 fiscal year totaled approximately $7.73 million.

Key Finding

  • The Board did not adopt realistic budgets; actual expenditures were far less than budgeted.
  • Unexpended surplus fund balance exceeded the legal limit of 4 percent.
  • The tax reduction reserve fund was not formally established and was not funded according to statutory requirements, and the insurance and debt service reserve funds contained excess moneys.

Key Recommendation

  • Adopt realistic budgets that are consistent with actual revenues and expenditures.
  • Ensure that the District’s unexpended surplus fund balance is in compliance with the legal limit.
  • Review all reserve balances and determine if the amounts are necessary, reasonable and in compliance with statutory requirements and develop a plan to reduce excessive balances.

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