Sackets Harbor Central School District – Financial Condition (2016M-89)

Issued Date
June 10, 2016

Purpose of Audit

The purpose of our audit was to assess the District’s financial condition for the period July 1, 2014 through November 30, 2015.


The Sackets Harbor Central School District is located in the Towns of Adams, Henderson and Hounsfield in Jefferson County. The District, which operates one school with approximately 450 students, is governed by an elected five-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $8.3 million.

Key Findings

  • The Board has consistently overestimated appropriations by about 9 percent in its adopted budgets over the past three years.
  • Unassigned fund balance has exceeded the 4 percent legal limit during the same period.
  • The District does not have a multiyear financial plan or a formal capital plan.

Key Recommendations

  • Develop realistic estimates of appropriations and the use of fund balance in the annual budget.
  • Ensure that the District’s unassigned fund balance is in compliance with statutory limits.
  • Formulate long-term multiyear operations and capital plans for the use of excess unassigned fund balance in the general fund.