ALBANY – An audit of the
Ossining Union Free School District for the period from 2012-13 through
16-17 found the school board’s adopted budgets included estimated
appropriations that exceeded actual expenditures by a total of $23.7 million.
That resulted in appropriated fund balance not being used.
The audit said recalculated unrestricted fund balance ranged between five percent and nine percent of ensuing years’ appropriations, exceeding the four percent statutory limit.
The state officials said the district should adopt budgets that include realistic estimates for expenditures and formulate a plan to use excess fund balance to benefit district residents.
In response to the audit, school board President Lisa Murray wrote that “We are pleased to note that the report concludes our revenue estimates were ‘generally reasonable,’ despite the legislative uncertainties associated with state funding. We also note by implication, the report identified no structural deficits or fiscal stress associated with the district’s budgeting.”
