During the February 15 Board of Education meeting, Superintendent John Carmello outlined the first draft of the 2017-2018 school district budget. The proposed budget, still very much in its early phases, totals $112,909,509, a 3.82-percent total increase over the 2016-2017 budget.
Carmello discussed some of the challenges facing this year’s budget including a .45% tax cap and initial state aid figures included in Gov. Andrew Cuomo’s budget proposal – two of the District’s biggest revenue sources.
The initial State Aid figures fall far short of what the District needs to be adequately funded. In fact, the District is still underfunded nearly $7 million in Foundation Aid, yet the governor has proposed a 1-percent increase to all districts across the state without taking into account their needs. This means that overfunded, low-need districts would receive the same percentage increase in Foundation Aid that underfunded, high-needs districts like Troy would receive.
Carmello remains confident that continued advocacy efforts with legislators and further analysis of programs and budget will allow property owners to see little if any tax increase in a final proposed budget.
Draft 2 of the budget will be presented to the Board of Education at the March 15 meeting at Troy High School. A third draft could be presented on April 4, if necessary. The public will vote on a final draft on May 16. See the full 2017-2018 Budget Calendar for details.