New York Comptroller Says Vestal Schools Should Use its Fund Balance
The New York State Comptroller has released the results of an audit of the Vestal School District finances that brings up some questions concerning expenditures, fund balances and taxes.
Thomas DiNapoli’s office says it found the district spent $21 million less from its general fund than it had anticipated over a five year period but still raised taxes.
The report contends that the district should have used that fund balance to pay expenses rather than leaning on taxpayers.
Vestal School District officials responded saying the tone of the report was offensive and pointed out that Moody’s Financial rating firm had upgraded the district’s status due to the strength of its financial position.