State Comptroller Tom DiNapoli recently released his third annual report of the state’s Fiscal Stress Monitoring System in which his office evaluated 672 school districts with fiscal years ending on June 30, 2015. According to the report, 82 school districts statewide are in or are susceptible to fiscal stress. The Averill Park Central School District was categorized as a District with “no designation” having earned a fiscal stress score of 18.3 percent out of 100. While the Averill Park Central School District is pleased to receive this designation, please note that this is not an indication that the district has the appropriate or necessary funding to meet the educational needs of the children.

The fiscal stress monitoring system is not designed to measure whether a district has the appropriate level of funding to ensure a sound, basic, quality education to all students and does not address or account for the shortfall of funding from the state. It is, instead, designed to evaluate a district’s spending, ability to cover expenses and manage the adopted budget. It serves as an early warning of fiscal stress with consideration of fund balance, operating deficit or surpluses, cash position, use of short-term debt, fixed costs and budget solvency. The system and classifications do not address or consider whether or not the district has enough funding to provide an appropriate level of service to meet the needs of the students.

“Basically, AP’s designation means that we are managing a budget responsibly. We have reduced expenses, pay our bills, have long-term plan and are maintaining solvency,” Superintendent Jim Hoffman said. “It is not an indicator of sufficient revenue or an equitable or appropriate level of funding that supports and meets the needs of the student population.”

 

Times Union Story:
http://blog.timesunion.com/capitol/archives/245658/dinapoli-report-82-school-districts-are-in-fiscal-stress/
Comptroller worksheets:
http://www.osc.state.ny.us/localgov/fiscalmonitoring/lists_schools.htm 

 

Posted Feb. 25, 2016