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Comsewogue board reaffirms reserve accounts, sets funding caps for fiscal year ending June 30, 2025
Summary
The board reaffirmed authorization for district reserve accounts under General Municipal Law and Education Law and set maximum funding amounts for several reserves, including a $10 million cap for the employee benefit accrued liability reserve and $4 million for capital reserve funding.
The Brookhaven‑Comsewogue Union Free School District Board of Education reaffirmed authorization for several reserve accounts and approved maximum funding levels for the fiscal year ending June 30, 2025.
The action matters because reserves affect the district’s ability to manage claims, employee benefits and long‑term liabilities without immediate tax‑levy increases.
By resolution, the board reaffirmed the workers’ compensation reserve, the unemployment insurance reserve, the employee benefit accrued liability reserve, the employee retirement system reserve (ERS), a TRS sub‑fund, and the capital reserve fund. The board’s resolution set the following maximum funding limits for the fiscal year ending 06/30/2025: unemployment benefit reserve not to exceed $500,000; employee benefit accrued liability reserve not to exceed $10,000,000; employee retirement system reserve not to exceed $10,000,000; Teachers’ Retirement System (TRS) sub‑fund not to exceed $3,000,000; and capital reserve funding not to exceed $4,000,000. The workers’ compensation reserve was to be funded up to the outstanding claims liability estimated by the third‑party administrator.
Mr. Prince moved the resolution and Mr. Sanchez seconded. The board recorded the motion as carried after trustees voted “Aye.” The resolution states final amounts to be placed in each reserve will be determined on or before setting the tax levy.
The resolution cites general municipal law and education law as the authorities that prescribe such reserves; trustees recorded the caps and directed district business officials to finalize reserve placements before the levy is set.
