NYS Comptroller Tom DiNapoli created the Fiscal Stress Monitoring System four years ago to annually assess fiscal stress in local governments and school districts. After being identified two times in the past as being in fiscal stress, we are pleased to report that the district is no longer on the comptroller’s list. We went from being in “Significant Stress” based on the 2014-15 school year to being off the list after the 2015-16 school year.
The district worked very hard to bring the fund balance up to 4% and increase some of the reserve funds, including the tax certiorari and capital reserve funds. The district was also helped by restoration of the Gap Elimination Adjustment (GEA) funds.