Board reviews $110 million draft budget after small foundation-aid drop

The Board of Education reviewed a draft $110,047,515 budget at a Feb. 24 workshop, and the staff member leading the presentation reported a slight reduction in the district’s state foundation-aid estimate. “In November our total foundation aid estimate was just short of $50 million — $49,939,736 — and the February update reduced that by $48,377,” the staff member said, adding that the district remains above the hold-harmless threshold and expects another update in May.

Why it matters: Foundation aid is a primary revenue source for many line items in the operating budget; even small formula shifts can change projected revenues and the district’s planning for programs and staffing. The presenter attributed the change to three small formula adjustments: the pupil needs index moved from 1.265 to 1.264, the three-year small-area income/poverty (SAP) estimate fell from 0.621 to 0.601, and the consumer price index in the formula dropped from 2.8 to 2.7.

Central services and BOCES: The presenter described central-services costs and highlighted BOCES administrative charges as the largest central expense, saying BOCES-related costs represent nearly $2.1 million of the budget and are rising year over year (about a 2.88% increase for that component). Liability and student-accident insurance were flagged as rising items, described by the presenter as influenced by the broader litigation environment.

Debt service and timing: District borrowing for buses will edge slightly higher next year because an electric-bus purchase passed last year but its borrowing is on a delayed schedule; the presenter noted grant reimbursements tied to that purchase have not yet arrived and will offset borrowing when they do.

What’s next: The board will revisit these numbers in workshop three, and the presenter said the district will incorporate May legislative estimates and any additional guidance before finalizing the proposed budget for adoption in April.