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Board adopts $15.67 million 2024–25 budget after district cites $65,000 gift from Colgate
Summary
The Hamilton Central School District board approved a $15,672,071 budget for 2024–25, citing a one-time $65,000 voluntary payment from Colgate that helped the draft meet tax-cap requirements. District officials warned state aid uncertainty could require adjustments later.
Hamilton Central School District trustees adopted the district's 2024'25 proposed budget on April 16, approving an expenditure plan not to exceed $15,672,071.
A district administrator told the board that Colgate College notified the district it would provide an additional one-time voluntary payment of $65,000 to help close a roughly six-figure shortfall discussed at last week's budget workshop. The administrator said that, combined with a small draw from restricted reserves and other adjustments, the current draft is tax-cap compliant with a proposed 4% tax-levy increase and an approximate 4.32% increase in expenditures.
The administrator cautioned that final state aid figures are not yet available and said the district may need to monitor revenues and make adjustments during the year if state aid differs from current assumptions. Board members asked whether a shortfall would force reconvening; administrators said adoption now was recommended but that the board should remain prepared to act if state aid runs later require changes.
The motion to adopt the budget was moved and seconded and approved by voice vote. The board also approved the district's property tax report card as submitted.
The board earlier authorized submission of the district's share of the Madison-Oneida BOCES administrative budget and certified ballots for BOCES representative seats; those procedural actions were presented alongside the budget items.
Next steps: the public budget hearing is scheduled for May 14 at 6 p.m., and the district budget vote is set for May 21 from 12 p.m. to 8 p.m. in the bus garage.
