Purpose of Budget Review

The purpose of our budget review was to provide an independent evaluation of the District’s proposed budget for the 2017-18 fiscal year.

Background

The Chenango Valley Central School District is located in Broome County. Chapter 260 of the Laws of 2008 authorizes the District to issue debt totaling $3.5 million to liquidate the accumulated deficit in the District’s general fund and food service fund as of June 30, 2008. New York State Local Finance Law Section 10.10 requires municipalities and school districts that have been authorized to issue obligations to fund operating deficits to submit to the State Comptroller each year, starting with the fiscal year during which the municipality or school district is authorized to issue obligations and for each subsequent fiscal year during which the deficit obligations are outstanding, their proposed budget for the next succeeding fiscal year.

Key Finding

• We found that the significant revenue and expenditure projections in the proposed budget are reasonable.

Key Recommendations

• This budget review did not contain any recommendations.