Audit & Finance Committee Meeting

The Niskayuna Schools Audit & Finance Committee meeting on October 10, 2026, reviewed the 2025–26 independent audit and the district’s capital-project financing outlook. The external auditors reported unmodified opinions on the district’s financial statements and extra-classroom activity fund, with no compliance findings, significant audit difficulties, or disagreements with management. The federal Single Audit remains pending issuance of the final compliance supplement. The committee moved to recommend the independent audit to the Board of Education for acceptance; the transcript does not clearly capture the vote. The committee also approved its June 12, 2026 meeting minutes.

Fiscal Advisors reviewed financing for the $79 million 2021 capital project, which is fully financed and now has an estimated local share below $23 million, and the $47 million 2024 project, for which another borrowing of about $10 million is anticipated, subject to project cash-flow needs. The advisor modeled a possible 2027 capital project of about $50.25 million using an $8 million capital reserve while keeping the local share near $3.28 million; a half-percent tax increase could support a project of about $73 million. These were planning scenarios, not project approvals or contract awards. The district is also preparing its annual bus financing. The committee noted ongoing budget pressures, including labor and health-insurance costs, and emphasized aligning future debt service with building-aid receipts and available state aid.