Purpose of Audit

The purpose of our audit was to evaluate the Board’s management of the District’s financial affairs for the period July 1, 2010 through November 6, 2015.

Background

The Eastchester Union Free School District is located in the Town of Eastchester, Westchester County. The District, which operates five schools with approximately 3,200 students, is governed by an elected nine-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $80 million.

Key Findings

• Budgets did not include estimated amounts for refunds of real property taxes or amounts to fund them.
• District officials issued debt to pay for refunds of real property taxes.
• The District does not have a written, comprehensive multiyear financial plan for operating expenditures.

Key Recommendations

• Ensure that all estimated appropriations and revenues are in the budget.
• Consider using budgeted appropriations and available fund balance as financing sources for expenditures for the refund of real property taxes instead of issuing debt.
• Develop a comprehensive multiyear financial plan, and monitor and update the plan on an ongoing basis.