Purpose of Audit

The purpose of our audit was to examine the District’s financial condition for the period of July 1, 2010 through June 30, 2013.

Background

The New Rochelle City School District is located in the City of New Rochelle in Westchester County and operates 11 schools with 11,068 students and 2,146 employees. The District is governed by an elected nine-member Board of Education. Operating expenditures for the 2012-13 fiscal year were $229.5 million.

Key Finding

• The District has adopted budgets with realistic revenue and expenditure estimates. However, it has relied heavily on unexpended fund balance from prior years as a financing source for annual budgets, which has reduced the District’s unrestricted, unappropriated funds.

Key Recommendation

• Monitor the use of unrestricted, unappropriated fund balance and identify other funding sources that can be used if these moneys are no longer available to fund District operations.