The East Ramapo Central School District (ERCSD) announced a surprising $30 million budget surplus during Monday night’s Board of Education meeting, sparking calls for accountability and reforms in financial oversight, Monsey Scoop reported.

This discovery, confirmed by an independent audit conducted by EFPR Group, contrasts sharply with earlier warnings of a $30 to $40 million deficit projected for the summer of 2024. The audit, which reviewed the district’s finances for the fiscal year ending June 30, 2024, found that financial statements complied with generally accepted accounting principles.

The unexpected surplus comes on the heels of concerns raised by a state-appointed monitor last year, who predicted a severe fiscal shortfall. In response to these warnings, the New York State Education Department (NYSED) approved a 4.5% increase in state aid to stabilize district operations. However, the newly revealed surplus has raised questions about the accuracy of those financial forecasts and the effectiveness of the monitors overseeing the district.

Assemblyman-elect Aron Wieder has been vocal in his criticism of the state-appointed monitors, accusing them of producing inaccurate financial projections that led to unnecessary tax increases for ERCSD residents. Wieder expressed frustration, stating that a surplus of this magnitude should not have come as a surprise. He argued that the dire financial outlook presented by the monitors prompted unjustified tax hikes, burdening local taxpayers. Wieder called for an immediate refund of the tax increases and demanded an investigation into the monitors’ handling of the district’s finances.

How did ERCSD @NYSEDNews appointed monitors miss including $30m+ in the budget, leading to a 4.38% hike for taxpayers? An immediate refund is in order for the duped taxpayers, as well as an investigation into the extreme failure of the NYS ERCSD monitors. https://t.co/MAzXE7lAhZ

— Aron Wieder (@AronWieder) November 19, 2024

Senator Bill Weber also weighed in, announcing plans to host a press conference to address concerns about the monitors’ fiscal oversight and to demand answers from NYSED Commissioner Betty Rosa. Weber questioned how such a large surplus could have gone undetected until now and emphasized the importance of transparency and corrective actions to restore public trust. He stated that the surplus raises serious concerns about how financial oversight is conducted and whether resources are being effectively allocated to benefit students and schools.

The ERCSD Board of Education is now working on plans to allocate the unexpected funds. Priority areas under consideration include addressing deferred maintenance, enhancing educational programs, and improving resources for students and staff. The district has committed to updating the community on its financial strategy and next steps as it navigates this significant development.

The discovery of the surplus has prompted widespread debate, with taxpayers and community leaders demanding accountability, transparency, and reforms to prevent similar issues in the future. Further updates are expected as local officials and the district outline their plans to address the fallout from this financial revelation.

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