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Westbury school leaders detail reserve funds, say unappropriated balance will finish above state guidance
Summary
At the Sept. 9 planning meeting, Westbury Union Free School District officials explained the district's reserve accounts, a recent $2.5 million capital transfer approved by voters, and said the district will finish the fiscal year slightly above the state's recommended 4% unappropriated fund balance.
Westbury Union Free School District officials described the district's reserve accounts and fund-balance changes during the board's Sept. 9 planning meeting, saying the district will end the year slightly above New York State's recommended 4% unappropriated fund balance. Assistant Superintendent for Business Trish O'Neil outlined line-by-line changes to reserves and explained why some accounts rose or fell. The account summary shown on the agenda included several targeted reserves and what O'Neil described as carryovers and legally restricted funds. "The reserves that you see on the agenda, the boards are required to approve them each year. We start with the balance at June 30 and show you the changes that overall made from year to year," O'Neil said.…
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