Purpose of Audit

The purpose of our audit was to examine the District’s financial condition for the period July 1, 2011, to June 30, 2013.

Background

The Hendrick Hudson Central School District is located in Westchester County and includes the Town of Cortlandt and part of the City of Peekskill. The District is governed by the Board of Education which comprises seven elected members. The District’s budgeted expenditures for the 2011-12 and 2012-13 fiscal years were $69.8 million and $70.6 million, respectively.

Key Finding

• District officials developed reasonable budgets and managed fund balance responsibly in accordance with statute. Although the District’s fund balance has decreased significantly over the past five years, from $8.5 million beginning in 2009 to $4.6 million in 2013, the District is not currently in fiscal stress. The decline resulted from the District’s planned operating deficits and planned use of moneys from its tax stabilization reserve.

Key Recommendation

• There are no recommendations for this report.