Here you can find financial information about the District, including audits, fiscal stress monitoring and the Smart Schools Investment Plan information. There are separate sections of the website where you can find information about the school budget and taxes.
District Credit Profile
(November 4, 2020) Click here to view the October 27, 2020, Credit Profile Report from Moody’s Investor Services for the Kinderhook (DBA Ichabod Crane) Central School District.
Fiscal Stress Monitoring
Office of the New York State Comptroller Fiscal Stress Monitoring for 2020
We recently received the 2020 results from the Office of the State of New York Comptroller (OSC) Fiscal Stress Monitoring System.
As per the OSC:
“The Fiscal Stress Monitoring System (the System) is OSC’s program to objectively identify issues with budgetary solvency—the ability to generate enough revenue to meet expenditures—for each county, city, town, village and school district…OSC provides each local government with two scores and two resulting designations. The underlying indicators are measured on a 100-point scale.”
Ichabod Crane’s results were 13.3 for Fiscal Stress and 25 for Environmental Stress, respectively, with no designations. Though no designation is the highest or best designation available, we received similar results every year since OSC began testing in our district. These results reflect our overall excellent budgeting and spending practices as well as our careful management of reserves and funds.
You can read more about OSC’s Fiscal Stress Monitoring System on their website.
External Audit Reports
All audit reports are on file in the District Clerk’s office and are available to the public.
Office of the New York State Comptroller Procurement Audit Report, January 2019
(January 18, 2019) The Office of the New York State Comptroller (OSC) recently completed a procurement audit of our school district for the period of July 1, 2016 – November 9, 2017. The purpose of the audit was ensuring that we procure goods and services in accordance with our District policies and procedures. This was an opportunity for us to strengthen our financial processes and to ensure District taxpayers that we institute a high level of internal control on spending. Overall, we were pleased with the results of the report, which show us in compliance with District policies and procedures.
There were three key findings mentioned by OSC in the audit report. We issued a response letter to OSC about these findings, where we outlined corrective action we have taken to address them. Going forward, we will work closely with OSC to ensure that these findings are not an issue in the future. The Corrective Action Plan is available here.
If you would like to know more, you can view the complete report here.
Monthly Treasurer’s Reports
Smart Schools Investment Plan (SSIP) Phase II
Board Approves Smart Schools Investment Plan (SSIP) Phase II
(Feb. 8, 2017) Following a public hearing on the District’s Smart Schools Investment Plan (SSIP) Phase II during the Ichabod Crane Board of Education meeting on February 8, 2017, the Board approved the plan.
Of the $1,309,134 allocated to the District under the Smart Schools Bond Act of 2014, the district used $689,678 in Phase I. The Phase II plan calls for using $256,098 leaving a remaining balance of $363,358 for Phase III. Plans for using the remaining funding will be determined with input from the District’s Technology Committee.