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District finance chief reviews tax-cap calculation, reserves and noninstructional budget lines
Summary
Business official presented the 2024-25 budget recap, explained the tax-cap formula and showed reserves and noninstructional budget changes ahead of the next instructional budget presentation.
At a Board of Education meeting, the district business official reviewed the 2024-25 adopted budget, explained the New York property tax cap calculation and outlined changes to noninstructional budget codes ahead of the next budget presentation.
Karen (district business official) said the district—s voter-approved 2024-25 budget totaled $96.4 million and that roughly 75% of that budget funds salaries and benefits. She explained components of the state—s tax-cap calculation, including the prior-year tax levy, the tax-base growth factor, payments in lieu of taxes (Pilots) and allowable exclusions such as capital projects, debt service, bus purchases and BOCES capital expenditures.
Using the most recent figures, the district estimated a maximum tax-levy increase of about $2.4 million, or roughly 2.7%, as it approaches the March 1 state filing deadline.
Karen reviewed the district—s fund balance and reserves. As of June 2024, the district reported a fund balance of about $25.6 million, with the unassigned fund balance at the statutory 4% cap and a capital reserve of $10.7 million.
She then walked through several noninstructional account-code adjustments in the proposed 2025-26 budget, including salary reclassifications, contractual salary estimates and line-item changes. Examples cited included a $15,000 reclassification in the district clerk line (A1040), a $2,100 adjustment for budget-vote expenses (A1060), and increases in insurance and BOCES administrative cost estimates.
Karen said the next budget presentation, scheduled for March 4, will review instructional budget codes, including special education and athletics.
No formal vote was required on these informational budget items during the meeting; the presentation served to inform trustees and the public as the district proceeds through its budget timeline.
