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Three Village trims next year's capital plan to $1.5 million; officials explain tax-cap effects, emergency funding and SED reporting limits
Summary
District staff told a committee the board reduced proposed capital spending from $3 million to $1.5 million, lowering the calculated tax-cap impact; officials also reviewed how emergency repairs are funded and raised concerns about how the State Education Department reports per-pupil spending.
At a district budget committee meeting, district staff said the Board of Education lowered proposed capital projects in next year's budget from $3,000,000 to $1,500,000, a move staff said reduced the district's calculated tax-cap increase from 3.64% to 2.78%.
The change matters because the dollars set aside as capital exclusions from the tax cap can be used only for capital projects and must be described in the budget brochure before the public vote, district staff said. "The board decided to lower the capital projects in next year's budget to 1,500,000," said Jeff, a district staff member. He added that the $1.5 million is currently not earmarked to specific projects and that the district intentionally lists projects only as a total in the budget newsletter so it does not limit future building-aid claims on any single project.
Staff explained the timing and approval process for projects that would use the…
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