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Peekskill proposes $131.7 million 2025-26 budget; board to use $2 million in fund balance to limit levy increase
Summary
Business official Mrs. Hawthorne presented a 2025-26 budget snapshot showing a proposed $131,740,528 spending plan, the governor's executive aid figure and tax-levy calculations; the board signaled intent to set a levy below the maximum and to assign $2 million of fund balance to offset taxes.
Mrs. Hawthorne, the district's business official, presented the Peekskill City School District's 2025-26 budget snapshot to the board and community, saying the executive budget proposal would yield state aid in the range described by the governor and that the district plans to rely in part on fund balance to limit tax increases.
Hawthorne said the proposed 2025-26 budget totals $131,740,528, which she described as a 7.06% increase over the current budget. She listed the governor's executive-state-aid number as $74,644,238 for the K'12 portion (excluding universal prekindergarten). Hawthorne explained how the state's tax-cap calculation yields a maximum allowable levy increase and how the board planned to set the levy below that maximum: "For this year, our maximum allowable…
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