Purpose of Audit

The purpose of our audit was to evaluate the District’s financial condition for the period July 1, 2014 through June 30, 2016.

Background

The Wantagh Union Free School District is located in the Town of Hempstead, Nassau County. The District, which operates five schools with approximately 3,050 students, is governed by an elected five-member Board of Education. Budgeted appropriations for the 2016-17 fiscal year total approximately $76.2 million.

Key Findings

• District officials appropriated fund balance which was not needed to finance operations because of operating surpluses.
• When adding back unused appropriated fund balance, the District’s recalculated unrestricted fund balance exceeded the statutory limit.

Key Recommendations

• Discontinue the practice of adopting budgets that result in the appropriation of unrestricted fund balance not needed to fund District operations.
• Ensure that the amount of unrestricted fund balance is in compliance with the statutory limit.