Most Active Stories
- Empire Brewing Company says new brewery will create distinctive craft beers
- Teachers union not ready to reverse no confidence vote in education commissioner
- Duffy will keep thoughts to himself on Moreland Commission
- Novelis defends itself in court against allegations of influencing union vote
- Tell Me More will leave WRVO's midday schedule; Q with Jian Ghomeshi moves in
More News From WRVO
Utica School District to be Audited
By Elizabeth Christensen
Utica, NY – The State Comptroller's Office will soon perform an audit of the Utica School District.
The audit comes after Moody's Investor Service warned the district that it was nearing junk bond status.
The district has long struggled financially. It has diminishing budget reserve, maxed-out debt, and is now facing a likely cut in state aid.
The school district will end the fiscal year with a deficit.
Utica's Superintendent, Daniel Lowengard, tells the Associated Press he welcomes the audit and a chance to improve the schools credit rating.
A low credit rating makes it harder for the district ro borrow the money it needs. That means the increased gap is passed onto Utica taxpayers.