Friday, 23 April 2010 00:00
At its meeting on April 8, the board of education decided to apply $1 million in reserve funds to reduce the tax levy and thereby lessen the tax burden for Roslyn property owners during this recessionary period.
On this past Tuesday, April 20, the board was expected to adopt a school budget for 2010-11 that carries a tax levy increase of 0.66 percent. The budget-to-budget increase will be 1.12 percent. (The board’s formal vote of adoption was after the deadline for this week’s edition of The Roslyn News.)
In addition to helping the district to weather the current economic climate, healthy reserve funds are also an important factor in earning the Roslyn schools a high bond rating, which has enabled the district to refinance existing debt at lower rates of interest.
As a result of the contract agreement reached by the district and its teachers that was announced on March 18, significant reductions were made to the proposed budget.
A zero percent increase in the teacher salary schedule in 2010-11 and a larger contribution by teachers for health insurance premiums are among the major provisions of the new agreement that will yield savings in next year’s budget.
The budget vote is Tuesday, May 18 from 7 a.m. to 9 p.m. at Roslyn High School. Comprehensive budget information is available on the Business & Finance page at www.roslynschools.org.