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Board formally establishes unchanged 2026–27 tax levy; fund equity rose about $1.68M
Summary
The board approved the tax-levy resolution (res. 8.04) 5–0. Financial staff reported unaudited fund-equity increased roughly $1.68M, driven by interest earnings and bond premiums; the district maintains a 4% unassigned fund balance.
District finance staff (S11) presented the tax-levy resolution and a brief overview of fund equity and reserves. S11 said the proposed 2026–27 tax levy remains unchanged from what was presented during budget development and that minor changes residents may see will be due to assessed-value shifts across towns rather than a change in the district levy.
S11 reported the district ended the 2025–26 fiscal year in a positive position with an unaudited increase in fund equity of approximately $1.68 million, much of it from interest earnings and bond premiums. The presentation described transfers of the reserve for capital improvements into the capital (H) fund and a $2 million prepay reserve tied to timing of health-insurance payments. S11 also reminded trustees that New York State limits unassigned fund balance to 4 percent of the subsequent year's budget and said the district was at that statutory level.
The board moved on and approved resolution 8.04 to establish the tax levy; the chair called the motion and the board voted 5–0.
