The Levittown School District was told it is “financially healthy” by an outside auditing service at its Wednesday, Oct. 15, board of education meeting.
The report identified two areas where the district could enhance its internal controls: its finances related to accounts payable and extracurricular accounts.
Alexandria Battaglia, a partner from the firm R.S. Abrams and Co., said she was told policies would be implemented to correct the two categories.
Battaglia said that all financial categories noted for improvement in the 2024 report have since had policies implemented by the district.
She said there were no disagreements with management or difficulties encountered during the audit.
The audit provides an outside opinion of the district’s finances as of the end of the 2025 fiscal year. Battaglia said the district’s business office was cooperative during the process.
Battaglia went over key components of the district’s $274.1 million budget, which was approved by the community in May, highlighting increases in both the district’s expenditures and revenue. The district’s budget included a 2.94% tax levy increase and a $12.5 million increase from the previous year’s budget.
“Overall, you do have a healthy balance sheet,” Battaglia said.
She said the importance of financial health includes a positive cash flow, improving the district’s credit rating, reducing borrowing and interest costs, funding state aid shortfalls and preserving existing programs and opportunities for students.
Assistant Superintendent for Business and Finance Michael Fabiano said he was happy to receive such a positive report from the audit.
We maintain strong funding. That’s great news for the families, our staff, the building, everyone associated with the schools,” he said.
