Chappaqua previews $150.1M budget; proposed levy increase 2.99% under cap

District finance officials presented a budget preview on Jan. 14 that would propose a roughly $150.1 million spending plan for 2026–27, with a recommended tax levy increase of 2.99, below the district’s projected 3.9% statutory cap.

Josh (finance lead) explained key drivers: a 1.4% assessment growth factor tied to new housing, higher debt service tied to recent bond projects, a projected $1.9 million increase in state aid, and a 5% rise in health-insurance premiums. He also warned of continued uncertainty in federal aid allocations and special-education placement costs, and described an administrative plan to move some grant-funded positions temporarily into the general fund to buffer possible federal reductions.

The presentation highlighted that debt service will show a notable increase next year as bond payments fully phase in, but that increased building-aid reimbursements should offset part of that rise. Finance staff said they plan to propose using $2.3 million of unassigned fund balance to help balance the budget while continuing a multi-year plan to reduce reliance on one-shot fund-balance appropriations.

Board members asked for additional materials in subsequent budget presentations: multi-year departmental comparisons adjusted for inflation, class-size projections (with August 1 snapshots), a staffing-change summary (positions added/removed and rationale), and scenarios showing the fiscal effect of reducing appropriated fund balance. Administration agreed to deliver those data in the March budget cycle, which will begin with the recommended budget presentation on March 4.