New York State Comptroller Thomas DiNapoli recently released his annual “Fiscal Stress in School Districts” report reviewing the financial statuses of school districts across New York State. The William Floyd School District once again received “No Designation,” the highest mark a district can receive, which signifies the sound and fiscally responsible financial and business operations of the school district.

“The comptroller’s reports are extremely thorough and signify that the William Floyd School District continues to be good stewards of the community’s resources,” said Kevin M. Coster, Superintendent of Schools, William Floyd School District. “We continue to offer a topnotch education to our students while being sensitive to our residents and community.”

The comptroller’s fiscal stress surveys examine whether school districts are facing problems in budgeting, examine 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.   

Since the two percent tax cap era began, the Board of Education has stayed at or below the cap each of the eight years and effectively lowered the tax rate seven times to provide some relief to community residents which included a $1 million reduction in the tax levy in the 2017-18 school year. In the 2016-17 school year, the district’s credit rating was 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 been upgrading its facilities through the $39.4 million capital project overwhelmingly approved by voters in October 2017.

The district continues to use its resources wisely and efficiently as evidenced by increasing its four-year high school graduation rate to 88.7% (August 2019), providing numerous opportunities for students at all levels – elementary and secondary – including music and the arts, the STEM disciplines (science, technology, engineering and mathematics) and a science research program. The award-winning Career and Technical Education program continues to thrive earning various state, program and individual accolades and provides CTE offerings helping to get students career and college ready in the fields of automotive technology, barbering, building trades & construction, business, cosmetology, culinary arts, medical assisting and small engine repair. The Music Department has been named a “Best Community for Music Education” for three consecutive years and garnered induction into the Long Island Music Hall of Fame in 2018.

“There’s a great story unfolding in the William Floyd School District,” said Robert Vecchio, President, William Floyd Board of Education. “We continue on an upward trajectory and I look forward to what the future holds for our schools and community.”