Managing Fund Balance and New Requirements for Reserve Funds

The Comptroller’s office partnered with NYSASBO and the State Education Department to hold a webinar on School District Audits and New Requirements for Reserve Funds on November 1. OSC’s Nicholas Jenny from the Research Unit of the Division of Local Government and School Accountability presented information about audit findings including retaining excessive funds especially in EBALR accounts and findings such as weak internal controls for BOCES and poor attendance records in charter schools outside of New York City. He reported positive audit findings in 105 school districts where districts were following best practices. NYSED’s Stephen McNally reviewed changes to the Property Tax Report Card to incorporate information on Reserve Funds. NYSASBO members can view the webinar here.

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