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Interborough school board adopts $88.8 million budget, approves 1.5% tax increase
Summary
The Interborough Board of School Directors on June 18 adopted a $88,808,960 general fund budget for fiscal 2025–26 that raises local taxes by 1.5%, maintains a roughly $20.5 million fund balance and funds capital projects and new athletics positions.
The Interborough Board of School Directors adopted a $88,808,960 general fund budget for the 2025–26 fiscal year on Wednesday and approved a 1.5% tax increase, the board said in an 8–0 roll-call vote.
Board and finance leaders said the budget would keep the district’s fund balance near $20.5 million, pay for planned capital work and allow modest additions to athletic staffing and equipment.
During a presentation before the vote, Riley, a district finance staff member, said the administration and board “really worked very hard to bring this budget down to something that we believe is fiscally responsible to this community while always providing quality education for our kids.” Marty, a finance staff member who presented revenue and tax-impact details, said the proposed millage change would amount to about $59 in…
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