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FM budget preview: capital projects push debt service up, building aid to offset majority of increase
Summary
The district's budget presentation outlined a $3.9 million year-over-year increase driven by capital projects transitioning from short-term BANs to bonds, a projected $12.9 million debt-service component, roughly $3.3 million in building-aid offsets, and additional pressure from higher gas, electric, and insurance costs; the budget hearing is scheduled before the May 19 vote.
The Fayetteville-Manlius Central School District presented its budget drivers for 2026-27, calling out capital projects and debt-service timing as the primary reason for a year-over-year increase in the capital budget.
Finance staff said the 2026-27 capital budget is roughly $21.3 million, reflecting a $3.9 million year-over-year increase largely caused by projects moving from short-term BANs to long-term bonds. The presentation highlighted a debt-service component of approximately $12.9 million and identified a roughly $3.3 million building-aid offset that, in this year's accounting, reduces the net taxpayer impact to about $200,000.
"There's a decrease in BAN related payments and the project's getting ready to come to a conclusion and then it's going to become a bond," the presenter said, explaining a $4.2 million projected shift that mostly nets out after building aid. The presenter also noted rising operating costs, including an estimated 18'% increase budgeted for gas and electric and material increases in insurance premiums.
Board members discussed the limited discretionary space of the budget, noting most costs are contractual or fixed (salaries, debt, BOCES pass-through fees). The presenters flagged a $125,000 increase related to a BOCES capital pass-through fee and outlined that state aid formulas (foundation aid, transit/building aid) and timing will determine the final local impact. The board was told the district will continue examining fund balance, reserves and potential appropriations to smooth tax impacts.
Key dates presented: program/revenue review on March 23, full-budget review and adoption on April 20, a budget hearing on May 11 and the budget vote on May 19. The board did not take a final vote on budget adoption at this meeting; those actions remain on the spring calendar.
