Purpose of Audit

The purpose of our audit was to examine the District’s financial condition for the period July 1, 2011 through May 20, 2013.

Background

The Binghamton City School District is located in the City of Binghamton and the Town of Fenton in Broome County. The District is governed by the Board of Education which comprises seven elected members. The District’s budgeted appropriations for the 2012-13 fiscal year were approximately $98 million.

Key Finding

• District officials have taken appropriate action to manage the District’s financial condition. District officials recognized the need to be proactive in budget development and expenditure controls. District officials and Central Business Office (CBO) representatives meet regularly to monitor and evaluate the current year’s budget and available fund balance, and to plan for future years’ budgets. This planning includes an ongoing evaluation of the District’s spending trends and projected future fund balance.

Key Recommendation

• There are no recommendations for this report.