Comptroller: NY Schools Missed Millions In Savings


school-busA state audit said New York public schools have been socking away hundreds of millions of dollars in reserve accounts that they can’t touch now in the midst of a budget crisis. Comptroller Thomas DiNapoli’s¬†office identified $615 million that school districts have held “unnecessarily.” He says the districts placed more money than they need in reserve accounts for employees to receive accrued sick and leave time when they leave their jobs.The problem is that state law designates those accounts for one purpose, and now the money remains largely untouchable, costing taxpayers millions while the state has an $8.2 billion budget deficit and schools could face cuts.

DiNapoli recommends legislation to give districts more freedom in how money in employee funds is used.

DiNapoli’s the 54th Comptroller of the state of New York. He is a former state assemblyman in New York, who was appointed as New York State Comptroller on February 7, 2007.

{WCBS-TV/Noam Newscenter}