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Finance chief previews five‑year plan; projects deficits begin in later years
Summary
The district’s assistant superintendent for finance presented a five‑year long‑range financial plan showing reliance on state aid and local revenue, a $75 million capital project nearing completion, an additional roughly $8.5 million from reserves, and projected budgetary pressure beginning in 2027; trustees were asked to treat projections as assumptions pending the district audit.
The Kenmore‑Tonawanda Union Free School District’s assistant superintendent for finance presented a five‑year long‑range financial plan on Aug. 1, outlining revenue assumptions, expenditure drivers and projected budget pressure in later years.
The presenter said the district’s revenue mix includes a substantial share from state sources and noted uncertainty around proposed changes to the state’s foundation aid formula. "62% of our actual revenue budget is made up of our state sources," the presentation stated; the presenter emphasized that these figures are assumptions used for planning and that the district is awaiting audit results before finalizing financial statements.
On capital projects, the presenter said the district is wrapping up a current roughly $75,000,000 project and added an approximately $8.5 million project funded from reserves. A building condition survey contract was on the agenda as a first step in assessing future capital needs so the district can begin planning another project.
Expenditure categories identified as largest by share were instruction, debt service and employee benefits. The presenter showed projections that indicate deficits beginning in the 2027 projection year if current assumptions hold, and said the district’s budget will approach $200,000,000 in the next one to two fiscal years.
Board members asked questions about the foundation aid review process and were reminded that the Rockefeller Center was studying the aid formula and collecting regional feedback. The presenter said the district sent representatives to observe testimony at regional meetings.
The presenter cautioned that the plan reflects conservative assumptions and will change as audits close and updated state guidance becomes available. The board did not vote on the long‑range plan at the meeting; the plan will return for formal approval after the audit and final financial statements are prepared.
