Board authorizes administration to move year-end funds into reserves if available

The West Hempstead Union Free School District Board of Education voted to authorize the administration to move available year-end funds into district reserve accounts, including the employee retirement reserve, teachers’ benefits accrued liability reserve and the unemployment reserve if money remains after close of the fiscal year. The authorization does not move funds now; it permits the administration to place money into those reserves later in the year if the audited closing balance allows.

The superintendent, Mr. Raymond, told the board the vote is a common procedural step many districts take at fiscal-year end. “This is just the ability to do so,” he said, adding that any actual transfer would follow post-audit accounting and the board’s further review. He noted continued planning for facilities work and staff needs while the business office prepares for the annual external audit.

At least one trustee questioned the choice of reserves to receive funds. A committee member cautioned that locking dollars into the employee retirement reserve could reduce flexibility for near-term capital needs, saying the district currently has roughly $6,000,000 in that fund and urging consideration of a maintenance or capital reserve that could be used for roofing and other predictable projects. The superintendent and other trustees replied that establishing and funding a capital reserve requires voter approval and that the authorization under consideration is a standard step to preserve options at year-end.

After discussion, the board took the vote and the motion passed. The board chair emphasized that the measure authorizes the ability to move funds if available; it is not an immediate transfer of district cash.