Documents › Board of Education, 2026-02-12

budget 16 pages

Revenue Budget Presentation February 12, 2026 2026-2027 School Year - Croton-Harmon UFSD Governor's Executive Budget - State Aid Proposal Revenue Budget Overview Property Tax Cap ● Executive Budget Highlights - Released January 20th ● Key Budget Dates ● State Aid Projections based on Executive Budget ● Tax Cap History & Overview ● Proposed Tax Levy Formula 2026-27 ● CPI & Growth Factor History Preliminary Revenue Budget Next Steps in Budget Development Upcoming Budget Presentation Schedule Executive Budget Highlights ● Universal Pre-K: $1.5B total (+$431M) ‣ Per-pupil increases to $10,000 ‣ Full-day Pre-K-4 for all by 2028–29 ● College in High School Programs: $48M to expand dual enrollment, pathways, and teacher preparation ● Student Achievement Initiatives: ‣ $2M math teacher training ‣ $9M for tutoring in high-need districts ● Record School Aid: $39.3B total for 2026–27 (+$1.6B / +4.3%) ● Foundation Aid: +$779M (+2.96%); no formula changes; 1% minimum increase for Hold Harmless districts ● Expense-Based Aids: Fully funded; no changes to formulas ● Universal School Meals: $395M total funding (+~$55M increase) Key Budget Dates March: • March 1: Submit Allowable Tax Levy to NYS Comptroller • Finalize Budget & Bus Propositions • One House Budget Bills April: • April 1: Governor’s Enacted Budget (State Aid Secured) • April 21: BOE Budget Adoption & PTRC Submission May: • May 7: BOE Public Budget Hearing • Tuesday, May 19th: Annual Budget Vote February: • Feb 2 & 3: Advocacy Day in Albany • Feb 15: State Aid Database Update • NYS Consensus Economic and Revenue Forecast State Aid Budget Projections 2025-26 Adopted Budget 2026-27 Executive Budget Variance Basic Formula Foundation $5,283,434 $5,336,268 $52,834 Transportation $1,251,748 $1,306,460 $54,712 Public Excess Cost $3,952 $3,952 $0 High Tax $100,000 $100,000 $0 High Cost Excess Cost $87,210 $87,759 $549 Private Excess Cost $118,931 $202,463 $83,532 Building (Based on District Projections) $2,603,099 $2,692,838 $89,739 BOCES $642,609 $689,223 $46,614 Hardware, Tech, Library, & Textbook $140,678 $137,754 -$2,924 Total State Aid: $10,231,661 $10,556,717 $325,056 Property Tax Cap - Chapter 97 of the Laws of 2011 ● The Tax Cap formula began with the 2012-13 school year. ● Signed into NYS law and made permanent 2018. ● The law places restrictions on how school districts can increase their tax levies. ● The Property Tax Levy Cap limits the school district levy, NOT assessed values or tax rates. ● Voters approve school budgets, not the tax levy ● Submitted to NYS Comptroller’s Office by March 1 Property Tax Cap – Three Tax Levy Numbers Proposed Tax Levy Formula Tax Base Growth Factor: Measures “quantity change”, such as new construction newly taxable status of existing property, or measurable improvements to taxable property with in district boundaries. PILOTS: Payments in Lieu of Taxes Allowable Levy Growth Factor: Lesser of 2% or Inflation Factor (CPI) Line # Tax Levy Limit (Cap) Before Exclusions Sign 2026-27 Tax Levy Prior Year + $45,422,572 Tax Base Growth Factor x 1.0040 PILOTS Receivable Prior Year + $44,702 Capital Tax Levy Exclusion - $2,836,262 Allowable Levy Growth Factor x 1.0200 PILOTS Receivable Current Year - $46,043 Available Carryover from Prior Year + Total Levy Limit Before Exclusions = $43,622,914 Proposed Tax Levy Formula - (continued) Capital Tax Levy Exclusions: Debt Service (Net of Building Aid) Pension Contribution Expense Exclusion: Contribution rate must increase by 2% or more to be excluded. Allowable Tax Levy Percentage: 1.98% Dollar Growth in Levy: $900,308 Line # Tax Levy Limit (Cap) Before Exclusions Sign 2026-27 Capital Tax Levy Exclusion - Current Year + $2,699,966 Levy for pension expense -TRS & ERS + Total Exclusions + $2,699,966 Total Tax Levy Limit, Adjusted for Transfers Plus Exclusions = $46,322,880 Proposed Levy for Current Year, = $46,322,880 Allowable Tax Levy Percentage Increase 1.98% Dollar Growth in ATL $900,308 Is the District Planning to Override the Cap NO Tax Based Growth Factor Tax Levy Growth Factors 2025-26 2026-27 Description Budgeted Projected (2/19/26) Variance Pymts in Lieu of Taxes $44,702 $46,043 County Sales Tax $975,000 $975,000 Interest & Earnings $300,000 $250,000 Tuition Revenue $130,000 $300,000 Building Use Fees $42,000 $44,500 Other Revenue $184,500 $256,000 Total Non-State/Federal Aid $1,676,202 $1,871,543 $195,341 Total State Aid $10,231,661 $10,556,717 $325,056 Appropriated Fund Balance $2,465,615 TBD Use of Reserves and Fund Balance to bridge budget gaps is TBD. Appropriated Reserves: Employees' Retirement $200,000 TBD Teachers' Retirement $200,000 TBD Tax Certiorari $800,000 TBD Designated App. Reserves $3,665,615 $0 Allowable Tax Levy $45,422,572 $46,322,880 $900,308 Strategic Next Steps ● Legislative Budget Proposal - Expected March - update state aid projections ● Refine salary and budget projections ● Negotiate open Collective Bargaining Agreements (CHAA & ATU) ● Review enrollment projections and staffing ● Prioritize school building and department budget requests ● Determine transportation vehicle replacement needs ● Assess current year performance & prepare Fund Balance projections 2026-27 Presentation Schedule ✓ Jan 8: Budget Development Update ✓ Feb 12: Revenue Budget Summary ❏Feb 26: General Support, Operations, & Propositions ❏Mar 12: Vision Map, Technology, & Athletics ❏Mar 26: School Budgets, Curriculum, & Pupil Personnel ❏Apr 9: Superintendent’s Proposed Budget ❏Apr 21: Budget Adoption, PTRC and BOCES Admin Budget Vote ❏May 7: Public Budget Hearing Vote Day Information Tuesday, May 19, 2026 ● Time: 6:00 AM - 9:00 PM ● Location: Croton-Harmon High School (CHHS) On the Ballot: ● Budget Vote ● Trustee Election (3 Seats) ● Propositions Event: Tenure Celebration at 7:00 PM 5/19/2026 5/19/2026 Stay Connected Facebook @CrotonSchools Instagram @CrotonSchools Do you have questions about the 2026-2027 budget? You can email your questions to: Budget.Questions@chufsd.org @