Written by Gary Simeone, email@example.com Thursday, 17 April 2014 08:05
The preliminary 2014-15 school budget was adopted at last Tuesday night’s Oyster Bay-East Norwich school board meeting. The proposed budget, which came in at a figure of $54,578,478, is a 2.01 percent difference from the 2013-14 final budget figure of $53,504,111. With a budget to budget change of $1,074,367, it is the lowest expenditure increase in the last 15 years. No programs were cut as a result of balancing this budget.
“The biggest change in budget numbers is in the area of salaries and wages with a budget to budget increase of $683,428,” said School Superintendent Dr. Laura Seinfeld.
The estimated 2014-15 tax levy is $50,436,548, which is a 1.94 percent increase from the 2013-14 school year. This figure is aligned with the New York State tax levy limit.
The district fund balance, which is a sum total of all district reserves, is estimated at $1.5 to 1.8 million. This is after recommended actions and interest earnings are allocated. The fund balance determination is based on six factors; existing purchase orders, unencumbered budget review, predicted additional sources of revenue, historical data, identified trends and existing accrual reviews.
The budget vote will be held on Tuesday, May 20 from 7 a.m. to 9 p.m. in Oyster Bay High School.
The Oyster Bay-East Norwich 2014-15 Public Library budget was placed on the voting ballot for May 20. The total budget number for the library is $1,976,920. With $128,000 deducted from the appropriated fund balance and $28,000 deducted from estimated receipts, the amount to be raised by taxation is $1,822,920.
OB-EN school district treasurer Daniel Balzan will resign from his position, effective June 30.