Purpose of Budget Review
The purpose of our budget review was to provide an independent evaluation of the proposed 2023-24 budget.
Background
The Wyandanch Union Free School District (District) is located in Suffolk County. Chapter 18 of the Laws of 2020, as amended by Chapter 56 of the Laws of 2020, authorized the District to issue serial bonds in an aggregate principal amount not to exceed $4.5 million, to liquidate the accumulated deficit in the District’s general fund as of June 30, 2019. Under Local Finance Law Section 10.10(d), when a school district is authorized by a special or general law to incur debt to liquidate an operating deficit, it must submit to the State Comptroller each year, starting with the fiscal year during which the school district is authorized to issue the deficit obligations, and for each subsequent fiscal year during which the deficit obligations are outstanding, their proposed budget for the next succeeding fiscal year.
Key Findings
- We found that the significant revenue and expenditure projections in the proposed budget are reasonable.
- The District’s proposed budget includes approximately $11.3 million in health insurance appropriations; this appropriation is $3.4 million, or 43 percent, more than the $7.9 million projected expenditure for 2022-23 and $3.9 million, or 54 percent, more than the $7.4 million average health insurance expenditure incurred during the last five years.
- The District’s proposed budget complies with the tax levy limit because it includes a tax levy of $23,105,027, which is within the limits established by law.
Key Recommendation
- This budget review did not have any recommendations.