Amherst Central presents first 2026-27 budget forecast; projects $1.5M gap driven by debt service

Unidentified Speaker 5 presented the district's first program-continuation budget forecast for 2026-27, calling it an early projection built on November State Aid runs and several assumptions. The presenter cautioned that most numbers are preliminary and will change as state aid, CPI and tax-cap calculations are finalized.

Top-line numbers: The presenter said projected revenues total just under $87 million and projected expenditures about $88.5 million, producing an estimated $1.5 million gap under current assumptions. The presenter attributed much of the year-over-year increase to a $4 million debt service payment expected next August tied to recent borrowings. The property tax levy was described as "just over $43,000,000" in the presentation and the tax-cap calculation was noted at roughly 4.29% (including a capital exclusion of $1.8 million).

Revenue and expenditure drivers: Speakers said the district is using the November State Aid runs (which show the district at "safe harmless" for foundation aid) and will update revenue assumptions when the governor's executive budget and additional state aid runs are released. On expenditures, the forecast included contractually negotiated personnel increases (about $1.67 million or roughly a 4.5% personnel increase), an increase in ERS employer contribution rate, projected health-insurance increases, and contingency and capital outlay lines.

Next steps: Administrators will meet with department heads in January to review line items; the board will receive an update Feb. 3 and a more detailed expenditure review in March. The presenters emphasized the forecast is a starting point and that final numbers will be refined during the budget development process.

Quote: "Next year, we're looking at a $1,500,000 gap," the presenter said.