Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Auditors: revenues up ~5% and expenses up ~9% amid planned reserve use
Summary
Auditors said revenues rose about 5% (mainly property taxes and state aid) while general fund expenses increased about 9% due to salary steps and higher BOCES costs; auditors linked the fiscal position to levy-setting and credit considerations.
The auditors reported overall revenues increased roughly 5% from the prior year, driven by real property taxes and increased state aid, while total general fund expenses rose about 9%, primarily attributable to salary and step increases and higher BOCES services costs.
Presenter said the district ended the year with revenues over budget by $146,000 and expenditures under budget by approximately 3%, putting overall results at about 97% of the adopted budget. The auditor explained that maintaining strong reserves and financial position supports levy-setting and credit ratings and reduces borrowing costs if the district needs to issue debt.
The board received the report as informational; no vote or direction on the tax levy or staffing was made during the auditor's presentation.
