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Thursday, November 27, 2014
Common Core causes ire among Seaford parents
(Page 3 of 3)

Alexandria Battaglia from R.S. Abrams & Company, presented the financial report for the 2012-2013 school year. She reported there were “no material weaknesses in the district,” but suggested that the district increase some of its reserve funds, including retirement contributions, workmen’s compensation and employee benefits accrued liability. At the present time these reserve funds are “low. Retirement contribution is at $262,000 but your expense is $1.1 million for one year; workmen’s compensation is $155,000 but should be $807,000 and employee benefit accrued liability is $1.2 million and should be $5 million.”

Board President Brian Fagan asked “How do other school districts build up reserves?”

“Many come up with a long term period to fund those reserves. You can't do it in one shot,” replied Ms. Battaglia.

Mr. Fagan said the good news concerning the financial condition of the district and the new financial controls that have been put in place will help with the Moody’s ratings.

But some parents argued that money spent on efficiency experts, security systems and a time clock system should be spent on the children.

Mr. Fagan replied that these savings in the end would free up resources for the children of Seaford.

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