On Tuesday, May 21, residents of the Owen D. Young Central School District will vote on a proposed $7,197,864 spending plan for the 2024-25 school year that maintains all programming and extracurricular offerings at their current level. The plan represents a spending increase of 2.15% ($151,683) and calls for a 2.00% tax levy increase, ($39,648), which is under the district’s state-mandated tax levy limit or “cap,” set at 2.36% this year.
Voting will take place from noon to 8 p.m. on May 21 in the Founder’s Study at the school.
The Board of Education hosted a Budget Hearing at its meeting on Monday, May 13, giving residents the opportunity to hear a presentation from Superintendent Brennan Fahey and ODY Business Manager Fred Seifried, and ask questions about the budget.
The presentation is available to view here: https://5il.co/2lkjj
Nearly two-thirds (62%) of the district’s revenue comes from state aid. Foundation aid typically increases each year to assist schools with rising costs and inflation. As has been widely reported, state foundation aid will stay flat for the 2024-25 school year.
“We’ve been very intentional about our long-range financial planning, which has given us the flexibility to use fund balance this year to maintain all programs,” Superintendent of Schools Brennan Fahey said. “We’re expending a significant amount of fund balance to help balance the budget, rather than pass on the burden of flat foundation aid to our community,” he added.
Fahey noted the plan does not include any staff increases or large purchases, and said that budget lines showing increases from last year are due to contractual obligations, salaries, and health insurance.
The district’s spending plan includes an annual $100,000 outlay project that will continue lighting conversion to LED, ceiling replacement and window repair/replacement as a way to continually maintain facilities.
Also on the ballot, voters will consider allowing the district to purchase one bus, not to exceed $130,000, using funds from the Capital-Vehicle Purchases Reserve, and surplus fund balance if necessary. Bus purchases are done on a cyclical basis, with a new bus typically added to the district’s fleet each year, to replace an outdated vehicle that is either past warranty or showing signs of aging.
You may also learn about the upcoming budget vote through the district’s budget newsletter, which was mailed to every single household in the district. View the newsletter here: https://5il.co/2lkjn