The Farmingdale school board unanimously approved a budget Tuesday night of $150,567,160.
While the tax levy--the amount of funding a school district needs to raise through property taxes to balance its budget--will increase 2 percent, the budget itself increases just 1.82 percent, or $2,688,676.
The district will receive an infusion of $600,000 in preparation for future budgets after the shuffling of state funds available to schools announced in Albany last week.
Another $50,000 savings will be realized on pre-school special education because the Legislature overrode Gov.Cuomo's recommendation to require districts to cover those costs. In discussions of the budget before the vote Tuesday night, the district also cited savings on debt service bcause of its good Standard & Poor's rating of AA+.
In addition to the budget, voters will be asked to approve the use of $5,650,000 from capital reserves on several window and energy projects, including:
$3,077,110 for Howitt Middle School windows
$1,289,115 for Saltzman East Memorial windows
$1,281,525 for Albany Avenue windowsRevenue Tax Levy $114,539,602 State Aid $25,247,558 Other Income $3,280,000 Fund balance/reserves $7,500,000 Total Revenue Budget $150,567,160 Appropriations Salaries $78,345,917 Employee Benefits $37,439,051 Other $34,782,192 Total Budget Before Required Reductions $150,567,160 Total Budget $150,567,160
A public hearing on the budget is set for May 8, with the public vote on May 15.