Purpose of Audit

The purpose of our audit was to examine the District’s financial activities for the period July 1, 2013 through May 8, 2015.

Background

The Ithaca City School District is located in the City of Ithaca and encompasses eight towns in Tompkins County and two towns in Tioga County. Governed by an elected nine-member Board of Education, the District has approximately 5,200 students. Budgeted appropriations for the 2015-16 fiscal year are $115 million.

Key Finding

• District officials recognized their use of fund balance as a financing source could not continue. The District did achieve some cost savings that cost savings measures are positive steps in the effort to use recurring revenues to support recurring expenditures.

Key Recommendation

• Continue to examine cost savings opportunities to further aid the District in funding recurring expenditures with recurring revenues.