Last updated on June 5th, 2026For school districts, a financial statement audit is an important opportunity to demonstrate financial transparency, accountability, and sound stewardship of public resources. While audits occur annually, successful audits are the result of year-round preparation. Taking a proactive approach can help reduce disruptions, improve efficiency, and

Last updated on June 5th, 2026Within their first year of service, every member of the board of education is required to partake in a minimum of six hours of training in financial responsibilities and oversight. But what exactly is covered in this training, and why is it so important for

Last updated on April 8th, 2026In April of 2024, the Office of Management and Budget (OMB) issued significant revisions to Uniform Guidance, updating several administrative, cost, and audit requirements for recipients of federal awards. Effective for fiscal years starting on or after October 1, 2024, these revisions are intended to

Two statements issued by the Governmental Accounting Standards Board (GASB)—Statement 103 and Statement 104—have become effective for fiscal years beginning after June 15, 2025. Here’s what school districts need to know about the updated financial reporting requirements under these two statements. GASB 103: Financial Reporting Model Improvements The purpose of

Last updated on February 17th, 2026On January 13, Governor Hochul delivered the annual State of the State Address from Albany, emphasizing the priorities of affordability, safety, and expanded opportunities for New Yorkers. Included in the governor’s proposal are several initiatives related to education, with a focus on affordable child care

Last updated on January 12th, 2026Like all other organizations, school districts require a strong system of internal controls to protect their financial operations. Internal financial controls help to safeguard a district’s assets, preventing abuse, waste, and corruption. This article highlights the financial areas for which school districts should establish internal

With the October 15th deadline for external audits behind us, it’s time for school districts to start thinking about internal audits. This article provides a broad overview of internal audits and their role within school districts. As of 2006, all school districts and BOCES in New York State are required

The New York State budget for 2025-2026, passed in May, includes several education initiatives aimed at expanding access to educational opportunities for New York residents. Among these initiatives is the SUNY and CUNY “Reconnect” program, which launched with the start of the Fall 2025 semester. The State has allocated $47