Audit & Finance Committee Meeting

The Niskayuna Schools Audit & Finance Committee met on September 11, 2026, to review fiscal year 2025-26 financial results and discuss upcoming budget and audit activities. The committee examined expenditures totaling $116.5 million against revenues of $113.5 million, noting a deficit of $767,000 primarily due to planned use of fund balance and carryover expenditures. Health insurance costs were highlighted as a significant factor affecting the budget, with ongoing monitoring and adjustments anticipated. The committee also received updates on the independent audit process, internal audit focus areas, and upcoming capital project planning for 2027. Discussions included aligning health insurance plan years with the budget cycle, managing reserves to meet a 4% fund balance target, and potential legislative advocacy for health insurance reserve fund permissibility. The committee planned to review updated committee charters and address property tax exemption policy changes in future meetings. No contract awards or vendor selections were reported during this session.