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East Ramapo board hears budget outlook showing proposed tax levy increase and cash-flow projections
Summary
Assistant Superintendent for Business Mr. Stark presented draft revenue and expenditure figures that produced a proposed maximum allowable tax levy increase of 2.72 percent and a cash-flow projection showing multi-fund receipts and disbursements; board members asked for additional meetings to review details before March 1 state filing deadlines.
Assistant Superintendent for Business Mr. Stark gave a detailed presentation on district finances, saying the first draft of the tax-levy calculation shows a maximum allowable levy of $167,000,230,534 and an increase of $4,428,732 (2.72 percent). He said final state aid projections released the same day would be reviewed and incorporated into the revenue forecast.
Stark explained the district must calculate the revenue side first because New York’s property tax cap (as implemented by the New York State Comptroller’s Office) constrains levy-setting. “When we put those factors in, the first draft…shows a…
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