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Syosset officials flag inflation, higher borrowing costs and building-aid gains in 2023-24 budget preview
Summary
District staff previewed the 2023-24 budget, warning inflation and interest rates will pressure spending while state building aid and foundation aid increases provide partial relief. Officials outlined capital projects, tax anticipation note estimates and potential staffing pressures.
The Syosset Central School District on Feb. 13 received a first look at the 2023-24 budget, during which district staff warned that inflation and higher interest rates are creating financial pressure even as state aid projections include notable increases.
Assistant staff member Dr. Ruffo (presenter) described the preliminary tax-cap calculation, capital and administrative codes, and state aid estimates ahead of the district's budget vote scheduled for May 16. The administration said the district faces rising costs for health insurance, transportation contracts, tax-anticipation-note (TAN) interest and staffing related to enrollment, while building aid and foundation aid increases provide meaningful revenue relief.
Nut graf: Officials framed the budget as a multi-year exercise that must balance program…
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