Message from Assistant Superintendent Michael DeVito, Esq.

The Office of the New York State Comptroller has published its annual report identifying local governments and school districts that are experiencing fiscal stress.  Long Beach Public Schools has been listed as a district “susceptible to fiscal stress.”  Please be aware that this status is based on the SY 2015-16 annual operating deficit when our district was still recovering from the impact of Hurricane Sandy.  During SY 2016-17 and 2017-18, the district ended the year with a 2.95% and 3.50% annual operating surplus, respectively.

The Comptroller’s designation is based upon a multi-factorial formula that not only includes the most recent three years of data relating to whether the district ended the year with an annual operating surplus or deficit, but also incorporates calculations relating to the year-end fund balance, cash position and whether there is any reliance on short-term cash flow debt.  If the annual operating deficit from SY 2015-16 was not part of the calculation, the district would have received “no designation.”  ‘No designation” is the rating the district expects to receive at the end of the current school year since the impact of SY 2015-16 will no longer be included in the formula.