With the North Fork’s school budgets going before the public on Tuesday, May 15, local school boards worked on keeping the budget within the state’s 2 percent tax cap.
Though tax levy increases are over two percent in most of the districts, because of the state’s formula to calculate what constitutes the tax cap, all districts except for Greenport and New Suffolk will stay within the tax cap.
The District will present a $38,004,156 spending plan to voters. Last year’s budget is $37,363,239 and increase of spending at $640,917. This represents an estimated 2.19 percent increase in the tax levy.
voters will vote on a $27,024,043 budget for 2012-2013. The district plans to increase spending by $770,000. The budget is up over the $26,254,778 2011-2012 budget and represents a 2.93 estimated tax levy increase.
The t will ask voters to approve a $14,914,713 spending plan, up over the $14,100,005 2011-2012 budget. The tax levy increase is estimated to be 6.86. The increase is caused in part by borrowing costs associated with a total of $8.5 million in construction, renovation, and green energy bonds approved by the public in December 2010.
Although the planned to reduce spending by $270,000 this year, the tax levy increase is estimated at 2.5 percent. The board of education approved a $5,353,894, which is actually less than the 2011-2012 budget that stood at $5,626,644.
Voters on will be asked to pass a $9,739,303 spending plan. This represents a 1.02 percent increase over the 2011-2012 budget and an estimated tax levy increase of 1.90 percent.
The tiny is expecting operating costs to be $678,309 next year, which represents a decrease in spending from the 2011-2012 budget. However, Board of Directors President Tony Dill said the district wiped out the reserve fund this year because seven high school students moved into the district after the tax warrants were signed and the district had to pay their tuitions, which wiped out the district's reserve fund, plus cost an additional $30,000. He said the district must pay back the reserve fund this year so it faces a tax levy increase of 15.4 percent to bring the 2012-2013 budget to $735,595, to fund the operating budet and replenish the reserve fund.