A State Comptroller report criticized the Shoreham-Wading River school district for overestimating expenditures, building cash reserves above the legal limit while failing to adopt realistic budgets.
Officials defended the district’s financial standing after the state report last month. READ
After years of sterling fiscal health reviews, both Riverhead and Shoreham-Wading River school districts have been designated as “susceptible to financial stress” by the state comptroller’s office, which said the two districts are in danger of increased financial instability if trends continue.
But superintendents for both districts said the comptroller’s office’s findings are inaccurate and don’t represent the districts’ overall fiscal health. READ