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Locust Valley school officials outline 2025–26 budget, tax-cap limits and capital reserve plan
Summary
Karen, district finance staff member, presented the Locust Valley Central School District—s draft 2025–26 budget to the Board of Education, telling trustees the preliminary fiscal plan shows a roughly 1.92% budget-to-budget increase and that the district currently projects it will be within the state—s tax-cap limit.
Karen, district finance staff member, presented the Locust Valley Central School District—s draft 2025–26 budget to the Board of Education, telling trustees the preliminary fiscal plan shows a roughly 1.92% budget-to-budget increase and that the district currently projects it will be within the state—s tax-cap limit. "The maximum tax levy increase is 2.7%, equaling $2,338,000," Karen said while reviewing the tax-cap calculation the board will use to set a final levy.
The presentation laid out how the district—s current general-fund budget of about $96.4 million is funded (roughly 91% from local property taxes in 2024) and highlighted that 75% of expenditures are salaries. Karen also reviewed the district—s fund-balance composition and reserves, noting an ending cash balance of about $25.6 million as of June 2024 and a capital reserve balance of $10.7 million.
Why it matters: trustees must balance program funding with state-imposed tax limits and cash-flow…
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