Board of Education has heard two presentations
It’s been overshadowed by the capital project, but the school district has had two presentations on next year’s budget.
The initial plan calls for the addition of two maintenance employees, a part-time occupational therapist, and a new pre-kindergarten program that could accommodate up to 60 children. If more applied, the school would use a lottery to determine who would be accepted.
As in past years, the goal of the budget is to continue current programs and staffing while remaining under the tax levy cap. But what is the cap? It was identified as 2 percent when it was introduced in 2012. But the amount has fluctuated, because it’s influenced by changes in inflation and the tax base.
This year the cap is 4.87 percent, which is considerably higher than the average increase in the levy over the last eight years. Harvey Sotland, the assistant superintendent for business, prepared a chart showing the tax increases for each of the last eight years. The average jump was 1.95 percent.
School districts are anticipating a sizeable increase in state aid, because they are expecting to get their long overdue foundation aid in two installments. The first would be received during the next school year.
Cornwall’s preliminary budget shows an increase of $3.1 million in state aid over the previous fiscal year.
The budget also allows for the effects of the recent contract with the teachers association.
Total salaries (for teachers, staff and administrators) are shown as $39.7 million. With pension contributions and health insurance premiums added to that amount, employee expense is responsible for just over 70 percent of the budget.
The district has developed a healthy cash balance for contingencies. If the capital project is approved by the voters, the capital reserve fund will allow the district to improve its facilities without any effect on the taxpayers.
The district has also put aside money to deal with tax
certiorari payments, and large-scale increases in pension contributions.
The next budget presentations will occur at the March 28 and April 7 Board of Education meetings.
The board will adopt a budget on April 21. And the public will get to vote on it on May 17. To see what’s been presented to date, go to www.cornwallschools.com, hit “BOE” and highlight “budget information.”
