Apr 2, 2013 4:36 PM
Springs School District officials are considering a plan to draw $934,000 from reserves to keep next year’s tax rate below 3 percent and stay within the confines of a New York State 2-percent tax levy cap.
Springs is able to use the fund balance in part because the East Hampton School District overestimated high school tuition rates for Springs students by $354,000 this year. That allowed Springs to put money it had budgeted for tuition into the fund balance this year, officials said at a March 27 budget work session.
The district is projecting a total fund balance of about $5 million this year.
East Hampton School District also overestimated next year’s high school tuition rate, Springs officials said. That, combined with an overall reduction in the number of Springs students attending East... more
Springs is able to use the fund balance in part because the East Hampton School District overestimated high school tuition rates for Springs students by $354,000 this year. That allowed Springs to put money it had budgeted for tuition into the fund balance this year, officials said at a March 27 budget work session.
The district is projecting a total fund balance of about $5 million this year.
East Hampton School District also overestimated next year’s high school tuition rate, Springs officials said. That, combined with an overall reduction in the number of Springs students attending East... more
