Maine Endwell Criticized for Dipping Into Fund Balance Too Much
An audit by the New York State Comptroller's office says the Maine Endwell School District leaned on its fund balance too heavily in order to keep taxes down.
Looking at district books from July, 2011 to January, 2013, Comptroller Thomas DiNapoli's office says M.E. also over-estimated revenue. Maine Endwell received $2.4 million less in revenues than it had budgeted. Most of that was the result of reduced state aid and interest earnings.
The district responded to the audit in a statement, saying it was able to avoid layoffs until this school year by using the fund balance, which went from $1.7 million in 2009-2010 to just over $64,000 in 2011-2012.
In the just-approved budget for the 2013-2014 school year, M.E. eliminated more than 70 positions and increased the tax levy by 5.94%.