The Daily Gazette
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Audit warns Middleburgh school district to maintain reserves

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The Middleburgh Central School District is spending its reserves faster than the money can accumulate, putting the chance of being able to afford flood repairs at risk, according to state auditors. According to findings in an audit released by the state Comptroller’s Office, the district used about $2.4 million in reserves to balance its budget in the 2011-12 and 2012-13 fiscal years. That left the fund balance at about $2.5 million before the district appropriated ...

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