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External audit flags tight general-fund margins and long-term retiree-health obligations
Summary
External auditor Tom Zuber told the Horseheads Central School District board the district spent about 98.5% of its $95M expense budget, recorded a positive revenue variance near $1.2M, appropriated about $2.6M in fund balance for next year, and shows an entity-wide negative net position driven by a retiree-health obligation.
Tom Zuber, the district’s external auditor, presented the annual financial statements to the Horseheads Central School District Board on Sept. 19 and highlighted several items for trustees to note.
Zuber told the board the district produced a modest positive revenue variance—about $1.2 million—while spending roughly $94.5 million of a $95 million expense budget (about 98.5% of budgeted expenditures). He said the district appropriated roughly $2.6…
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