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Oxford Academy Board hears preliminary 2025–26 budget showing $1.42 million gap
Summary
School business manager Erin Gramstad presented a preliminary 2025–26 budget run that projects a 6.80% tax-levy cap and an estimated $1,415,549 gap, citing BOCES cost increases, CPI inflation and higher pension contribution rates.
The Oxford Academy and Central School District on Feb. 3 reviewed a preliminary 2025–26 budget that, in its current form, shows a $1,415,549 gap between projected expenditures and revenues.
"The estimated proposed expenditures and revenues creates a gap of $1,415,549," School Business Manager Erin Gramstad told the board, noting major cost drivers including BOCES increases, CPI inflation, rising health insurance and higher ERS and TRS contribution rates. Gramstad said the preliminary tax-levy cap calculation for 2025–26 is 6.80% and that the Governor's proposal would have set the cap at 5.89%.
Gramstad described the run as an early, working estimate and said she is continuing to explore options to close the shortfall before the board adopts a final budget. The presentation included a first look at which transportation expenditures are eligible for state aid and which are not. The board did not take final action on the budget at the meeting.
