District news
Audit again finds the district saved too much money under state law
What happened
The independent audit for the year ending June 30, 2025 repeats a finding from the year before: the general fund held $30,824,863 of unassigned savings, 8.59% of the budget. State law allows only 4%. The district said it had a plan to comply by June 30, 2026. In June 2026 the board authorized transfers of up to $27 million of 2025-26 funds into reserves, and the 2026-27 budget uses $16.5 million of savings.
Why it matters to families
Holding more than the legal limit while asking taxpayers to fund the budget is a compliance problem. Moving money into reserves is one way the district is trying to fix it.
The evidence
The audited financial statements include finding 2025-001 (repeat of 2024-001) citing Real Property Tax Law section 1318 and give the dollar figures. The district-wide net deficit was $186.2 million, a 16.8% improvement.
The source
Hempstead UFSD final financial statements FY2025 (audit report dated Oct 15, 2025)See the full record for Hempstead Union Free School District.
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