Mohonasen’s Board of Education adopted a $50,940,000 proposed budget for the 2017-18 school year at its April 3 meeting.
Under the proposal, spending would increase $2.5 million, or 5.32 percent. About $1.3 million of the proposed increase – or a little more than half – is due to an increase in payments to debt service on the capital project that included construction of the new Center for Advanced Technology and transportation facility, among other projects.
According to Assistant Superintendent for Business Chris Ruberti, the $1.3 million debt service payment is offset by three factors: additional building aid the district will receive from the state in 2017-18; a transfer of funds from the debt service account, which can only be used to pay down capital debt; and, the increase in the capital exclusion, which is the portion of the tax levy used to fund the local share of payments on voter-approved capital projects. (The increase in the capital exclusion is less than 1 percent of the tax levy, as promised to residents when the project was proposed in 2013.)
“The $1.3 million expense that relates to the capital project does not take a single dollar away from the instructional piece of the budget,” said Ruberti.
The proposed budget carries a tax levy of 2.83 percent, which is below the district’s calculated limit. As a result, a simple majority (50 percent plus 1 vote) is needed for approval.
If the proposed budget is approved by voters, the estimated tax increase on an average Rotterdam home with a $150,000 full value will be approximately $53.
View Ruberti’s April 3 presentation to the Board.
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