New York State Comptroller Thomas DiNapoli recently released the “Fiscal Stress in School Districts” report which reviews school districts’ financial statuses across New York State. The William Floyd School District is pleased to announce that it has received “No Designation” – the highest designation a district can receive. The comptroller’s fiscal stress surveys examine whether school districts are facing problems in budgeting, look at solvency indicators such as fund balance levels, operating deficits, cash-on-hand and reliance on short-term borrowing. Environmental indicators such as a district’s tax base and poverty rates are also reviewed.
“This designation from the comptroller’s office demonstrates the sound and responsible fiscal management of the William Floyd School District Board of Education and our business operations,” said Kevin M. Coster, Superintendent of Schools, William Floyd School District. “As a district, we continue to offer a topnotch education to our students while being sensitive to the needs of our residents and community.”
Since the two percent tax cap era began, the Board of Education has stayed at or below the cap each of the seven years and effectively lowered the tax rate six times to provide some relief to community residents which includes a $1 million reduction in the tax levy in the 2017-18 school year. The district’s credit rating was recently increased by Moody’s Investor Services, which signifies the district’s finances to be of high quality and subject to very low risk. Higher credit ratings result in lower interest rates which is a benefit to all taxpayers in the community. Additionally, the district has begun a $39.4 million capital project (overwhelmingly approved by voters in October 2017 with 91.2% casting yes votes), which will be transformational for district schools and the community.
The district continues to use its resources wisely and efficiently as evidenced by increasing its four-year high school graduation rate to 86% (August 2018), added numerous opportunities for students at all levels including music and the arts, the STEM disciplines (science, technology, engineering and mathematics) including a science research program which also had its first Intel Science semifinalist in the history of this fledgling program. The award-winning Career and Technical Education program continues to thrive earning various state, program and individual accolades such as cosmetology garnering one of just two “Model Program” designations by the Career and Technical Education Technical Assistance Center of New York for 2018. In addition to cosmetology, other CTE offerings helping to get students career and college ready include automotive technology, barbering, building trades & construction, business, culinary arts, medical assisting and small engine repair. The Music Department also earned induction into the Long Island Music Hall of Fame in 2018.
“Great things are happening in the William Floyd School District,” said Robert Vecchio, President, William Floyd Board of Education. “We are a district on an upward trajectory and I look forward to what the future holds for our schools and community.”