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Board hears tax-cap calculation and expanded UPK funding that could free $450,000 for general fund
Summary
District staff told the Beacon board the tax-cap calculation due March 1 shows a preliminary levy increase of 4.4% (driven by capital-exclusion debt scheduling) and that increased universal pre-K funding could allow the district to reallocate about $450,000 currently used for pre-K back to the general fund.
An unnamed district staff presenter updated the Beacon City School District Board of Education on Feb. 19 about the district’s tax-cap calculation, capital-exclusion treatment for a $49 million project and new universal pre-K (UPK) funding in the governor’s budget.
The presenter said the tax-cap calculation reflects three main inputs — the tax-based growth factor, the allowable growth factor (the lower of 2% or CPI) and the capital-exclusion debt schedule — and that decisions to spread capital debt over more years raised the capital…
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