The Sachem Central School District is under “significant fiscal stress” according to State Comptroller Thomas DiNapoli’s Fiscal Stress Monitoring System.
The district is among 87 in New York state that is designated as fiscally stressed.
“School districts are a critical barometer to the fiscal health of our local communities,” DiNapoli said in the report. “Unfortunately, reductions in state aid, a cap on local revenue and decreased rainy day funds are creating financial challenges that more and more school districts are having trouble overcoming.”
According to the report, each district was scored as in “signficant fiscal stress,” in “moderate fiscal stress,” as “susceptible to fiscal stress,” or “no designation” based on financial information submitted as part of a ST-3 report filed with the State Education Department on Dec. 13. Financial indicators in the report included year-end fund balance, cash position and patterns of operating deficits to create their score.