The Office of the State Comptroller recently released its annual fiscal stress monitoring system report. The report evaluates annual fiscal stress from a budgetary solvency perspective - did the school district generate enough revenue to meet expenditures in a given year? The system is not intended to assess the overall fiscal health of the district.
Schenevus received a designation of “Moderate Fiscal Stress” for the 2016-17 budget year. This is the first year for which the district has had any designation of fiscal stress. This designation is primarily due to the level of unassigned fund balance at the end of the 2016-17 school year. The district used more fund balance than expected because of significant unanticipated special education costs last year and limited state revenues. The Board of Education, administration, and staff have worked very hard to address the issue and budget conditions are much improved in 17-18 and moving forward into 18-19.
Below is a link to the Office of the State Comptroller Fiscal Monitoring System website, the state-wide list, and the district’s report.
Please do not hesitate to contact the superintendent’s office with any questions.