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Speculator, NY ,

School gets high audit marks but is told to beef up budget

Wednesday, December 05, 2012 - Updated: 8:36 AM


Express News Staff

INDIAN LAKE - Certified Public Accountant Lawrence J. Ringer, Glens Falls, warned the Indian Lake Central School District Board of Education, “The 2 percent tax cap is dangerous,” and explained why when he met with the trustees Nov. 27.

Ringer was there to review his audit of the district’s finances, and gave it high marks for budget and financial practices.

He said the 2011/12 budget was accurate on expenditures and added, “Internal controls are adequate and everything looks good.”

Despite the praise, he suggested the BOE not try to keep the budget flat but to allow some yearly increase, because the cap “is like being in a fight with your hands tied.”

ILCS’s 2011/2012 budget was down 0.34 percent from 2010/2011 and the 2012/2013 budget is up 0.68 percent over 2011/2012.

The state-mandated property tax cap enacted in 2011 allows a school district’s property tax levy to grow by the rate of inflation or 2 percent each year, whichever is lower.

The cap is then adjusted for certain exclusions and any carryover of unused cap room.

Ringer said just one special education student could wipe out the school’s fund balance and create a situation where it would be impossible to stay under the cap.


The building project is expected to be finished during the school’s Christmas vacation.

The asbestos abatement project has been completed. It is expected to come in about $30,000 below the $100,000 budgeted for the work.


Brian Conway and Evangeline LaPrairie, both of North Creek, were approved as substitute teachers. Jenna Schmid, Newcomb, was approved as a substitute nurse.

Science teacher Sandy Bureau was appointed prom adviser.

The board will next meet Tuesday, Dec. 18, starting at 7 p.m. in the school cafeteria.


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