Catskill Central School District – Financial Management (2017M-134)

Issued Date
September 29, 2017

Purpose of Audit

The purpose of our audit was to review the District’s financial management practices for the period July 1, 2015 through March 28, 2017.


The Catskill Central School District is located in the Towns of Catskill, Athens and Cairo in Greene County. The District operates three schools, has approximately 1,500 students and is governed by an elected nine-member Board of Education. The District’s budgeted appropriations for the 2016-17 fiscal year totaled approximately $39.4 million.

Key Findings

  • Budget appropriations were overestimated by nearly $11 million over the past five years (2011-12 through 2015-16).
  • Unrestricted fund balance totaled $5.5 million as of June 30, 2016 and was 14 percent of 2016-17 budgeted appropriations, exceeding the statutory limit by $3.9 million (10 percentage points).

Key Recommendations

  • Ensure budgets include realistic estimates of appropriations based on actual needs to avoid levying taxes at a level greater than needed.
  • Maintain unrestricted fund balance within the statutory limit and develop a plan to reduce unrestricted fund balance in a manner that benefits District residents.