Senator Bill Weber has sent a formal letter to New York State Education Commissioner Betty Rosa and East Ramapo Central School District (ERCSD) Fiscal Monitor Shawn Farr, demanding answers regarding reports of a nearly $100 million surplus in the district’s finances.
Senator Weber expressed deep concern over the dramatic shift in financial figures, noting that just months ago, the district reported a $30 million surplus—after the Senator was confidently told by NYSED and the fiscal monitor that there was a $20 million deficit (a $50 million shift). Based on these inaccurate claims, the fiscal monitors requested, and Commissioner Rosa directed, an additional 4.38% tax levy increase beyond the voter-approved 1%, placing an unnecessary burden on taxpayers.
The sudden claim of a $100 million surplus raises serious questions about the district’s current financial oversight team. Shocked by this latest revelation, Senator Weber, a Certified Public Accountant, conducted a cursory review of the district’s June 30, 2024, audited financial statements, which showed an unrestricted cash balance of $47 million and a general fund balance of $72 million, with $31 million unassigned.
Senator Weber is demanding:
Verification of the $100 million surplus – Is this figure accurate, or is it already included in previous reported fund balances?
Accountability from the fiscal monitors – Why were previous financial projections so inaccurate?
Assurance that NYSED will get things right moving forward – What steps will be taken to prevent such miscalculations in the future?
Taxpayer relief considerations – With the district in a stronger financial position than previously claimed, will refunds or other tax relief be offered to taxpayers who bore the burden of the unnecessary tax increase?
“The residents and taxpayers of East Ramapo deserve reliable information,” said Senator Weber. “The shifting financial narratives have resulted in an erroneous tax increase that may have just become even more egregious, and we need to ensure this doesn’t reoccur.”
Senator Weber made it clear that his concerns are directed at the state’s supposed fiscal monitoring process and demanded a resolute response from Commissioner Rosa and Fiscal Monitor Farr.
