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District projects $4.7 million midyear fund balance, cites unexpected BOCES refund
Summary
Center Moriches' budget presenter said unaudited midyear projections show about $4.7 million in fund balance, helped by an unexpected BOCES refund exceeding $300,000 and lower-than-expected health-insurance increases; the district plans further reserves transfers and will continue budget workshops ahead of the March 1 levy filing.
Presenter opened the board's budget workshop by saying the district is conducting a line-by-line, month-by-month review of 2024–25 finances to determine whether spending must be curtailed and how much can be moved into reserves. "So all in all, we're at 4,700,000.0 projected right now," the Presenter said.
The Presenter said the district's revenue mix is led by the property tax levy and state aid, with tuition and interest earnings as smaller but variable elements. An unplanned revenue boost is a BOCES refund: "We're over $300,000 we're getting in BOCES revenue," the Presenter said, calling it a "huge item" for the revenue side.
Nut graf: The projection is unaudited and subject to change, but current estimates keep the district above its 4% undesignated fund-balance policy. The Presenter said the district typically freezes discretionary spending in late fall or early winter to protect that reserve and will consider transfers to capital at year-end.
On the expense side, Presenter identified staff vacancies, leaves and a persistent shortage of substitute teachers as factors that affect salary lines. Health-insurance rates for January came in with a roughly 2% increase, which Presenter said produced material savings versus the 10–15% increases the budget had assumed. The Presenter also said the district borrowed less on its tax-anticipation note this year and is paying lower interest than expected.
The Presenter emphasized that the $4.7 million figure is unaudited and changes as new information arrives; the district will update numbers when state aid figures and final BOCES reconciliations are received. The board scheduled follow-up budget workshops, including a Feb. 12 session focused on expenditures and an April 23 meeting to adopt a budget before the May 14 vote.
Ending: The Presenter said the district will present revised projections in February and again before the March 1 controller filing for the tax-levy calculation.
