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Auditors: Waterloo CSD ‘did not adopt realistic budgets’, leaving millions in reserve funds unnecessarily

State Auditors: Waterloo CSD holding millions unnecessarily in reserves as annual budgets miss mark
The Waterloo Central School District has some work to do. A report released by New York State Comptroller Tom DiNapoli’s office outlined upwards of six reserve funds, which had as much as $20.4 million in them. The reserves represent more than 50 percent of the district’s 2018-19 general fund appropriations, according to auditors. DiNapoli’s office audited a period ranging from... more