It even goes as far as to say that the Board of Education and the District administration did not develop reasonable budgets.
The comptroller's office says that one of the main issues is that the district's general fund spent $21 million less than the district had anticipated over a five year period.
The state believes Vestal should have used its fund balance to help pay for operations instead of increasing property taxes.
The Vestal School District responded to the critical review by saying the report's tone is disappointing and offensive. Moody's has upgraded its financial rating because of the strength of its financial position.
Vestal also says it makes sound financial decisions and that it would be financially irresponsible to use fund balance to pay for year-to-year operations without trying to recover the funds.
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