Friday, 03 September 2010 00:00
The Roslyn Board of Education voted unanimously on August 17 to apply nearly $1.2 million from the district’s reserve funds, as well as to increase its estimate of recovered funds by $400,000, in order to lower the increase in the tax levy to zero percent, thereby providing tax relief to local residents during this extended period of economic uncertainty. This is being accomplished, school district officials said, despite drastic reductions in state support for the Roslyn Public Schools.
The increase in the estimate of recovered funds is the result of successful litigation against the architect and construction manager from the 2000 Bond Project at the Middle School.
In addition to the appropriated fund balance of $2.4 million, the Board decided to use nearly $1.2 million of reserve funds to keep the tax levy at the same level as it was in 2009-10. At the time of the budget vote last May, the levy was projected to increase by two-thirds of one percent.