The Weedsport Central School District has once again received no designation of fiscal stress by New York State. For the fiscal year ending in June of 2021, the District was given a score of 20, which landed the District in the ‘No Designation’ category. At the conclusion of the 2022 school year, once again the District has been labeled as ‘No Designation,’ improving its score to 0. The improvement in the score is due mainly to the District’s improved year-end fund balance.
“The District has focused on improving it’s financial status over the past few years,” explained Business Manager Stacie McNabb. “This classification is a result of prudent budget decisions that we plan to carry into the budget development process for the 2023–24 school year. Credit is also due to the Board of Education as it continues to demonstrate good financial leadership on behalf of the school taxpayers.”
Each year, the Office of the State Comptroller releases its Fiscal Stress Monitoring scores for each district in New York State. Based on a district’s score they fall into one of four categories – Significant Fiscal Stress, Moderate Fiscal Stress, Susceptible to Fiscal Stress, and No Designation. The fiscal score is calculated using a variety of factors, including year-end fund balance, cash balance, and patterns of operating deficits. Scores range from 0-100, with anything under a score of 25 receiving a ‘No Designation’ status.