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Kings Park budget wins voter approval; board authorizes up to $19 million TAN and approves reserve transfers
Summary
Voters approved the Kings Park Central School District 2025‑26 budget on May 20; at the June 3 meeting the board certified results, re‑elected two incumbents and authorized issuance of tax anticipation notes not to exceed $19,000,000 to cover cash‑flow needs. The board also authorized transfers into established reserves.
KINGS PARK, N.Y. — Kings Park voters approved the district’s 2025‑26 budget on May 20, and the Board of Education on June 3 certified the results and took financial steps to support the upcoming fiscal year.
District officials reported the budget passed with 736 yes votes and 403 no votes. In the board of education election incumbents Pat Hanley received 841 votes and Sheila Pascucci received 745 votes. “We appreciate that support and confidence in the district and budget and what we're doing to provide a great education for our kids at as best a cost as we can,” the board president said after reporting the results.
To address cash‑flow timing in Suffolk County, where property tax receipts are not received in full until January, the board adopted a tax anticipation note (TAN) resolution authorizing issuance of notes not to exceed $19,000,000 in anticipation of 2025‑26 tax receipts. The treasurer will complete a cash‑flow analysis in the coming weeks to determine the exact borrowing amount, the administration said. The motion to authorize the TAN carried by voice vote.
The board also approved a resolution authorizing transfers from the 2024‑25 unassigned general fund balance into several previously established reserve accounts, with maximum transfer amounts specified in the resolution: teacher retirement reserve $250,000; 2019 capital reserve (facilities improvements) $500,000; employee benefit and liability reserve $250,000; ERS retirement contribution reserve $250,000; workers’ compensation reserve $250,000; and unemployment insurance reserve $50,000.
Board members and administrators thanked community volunteers and elections staff for running a smooth budget‑vote day. No further budget votes were required at the June 3 meeting; the business office and treasurer will continue to finalize amounts and next‑year commitments.
