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District staff outline preliminary FY2025–26 revenue assumptions, flag building-aid and pilot uncertainties
Summary
The district presented early revenue estimates for FY2025–26, noting state aid comprises about 25% of revenue, miscellaneous revenue about 4–5%, and local tax levies the largest share; staff flagged uncertainty in building aid and pilot-related receipts and estimated a 3.76% tax-cap calculation for 2025–26.
Ithaca City School District finance staff presented a preliminary revenue outlook for the 2025–26 budget at the Feb. 25 board meeting, describing state aid, miscellaneous revenue and local tax-levy assumptions and identifying several moving parts that could affect the budget.
Assistant Superintendent/finance presenter Dom Lisi summarized the district’s revenue composition: state aid accounts for roughly 25 percent of district revenue, miscellaneous income (about 4–5 percent) includes fees and other receipts, and local tax levies fund the largest share. Lisi said some parts of state aid — notably foundation aid and building-related (expense-based) aid — remain estimates and could change when final state runs are released in April.
Staff displayed comparative figures used for budget-to-budget analysis: the 2024–25 budget included a building-aid figure of just over $5.2 million; the preliminary 2025–26 estimate for building aid is about $3.1 million. Lisi cautioned that timing of capital projects and final state calculations can materially change that figure and said staff were presenting a conservative (lower) estimate for planning. Miscellaneous revenue was estimated at roughly $6.7 million; federal grants and program funds (Title grants, lunch program, IDEA, etc.) were noted at about $5.2 million but were described as restricted/grant funds rather than general-purpose revenue.
District staff explained how the property-tax cap calculation works and said their 2025–26 tax-cap calculation is 3.76 percent. Emily (district staff) described components of the calculation, including the prior year tax levy, a state-provided tax-base growth factor, payments in lieu of taxes (pilots) and a 2-percent cap on the consumer price index component; she noted some pilot figures from county and city assessments are still pending and may be estimates until those inputs arrive in April.
When asked about the district’s projected 1 percent tax-base increase used in the scenario, staff said it reflected modest growth and that some abatements/pilots have expired or will expire, which can affect the tax base; staff also said Tompkins County assessment staff had indicated property assessments are likely to remain stable for several years, a factor that affects tax-rate calculations.
Lisi said, under the flat assumptions shown, the district’s revenue increase would be about 1.04 percent from the current year; staff emphasized these figures were preliminary and subject to change. No budget decisions were made; the presentation was informational as the district begins formal budget work.
Ending: Staff will refine state-aid and pilot estimates as final data arrive in April and will bring updated revenue figures to the board as the budget process continues.
