Documents › Board of Education, 2026-02-12

budget 16 pages Scanned/OCR — text may contain errors

Also attached to this agenda item: 2026-27 Budget Presentation: Revenues

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 Tax Levy Limit (before exclusions) e Highest allowable tax levy (before exclusions) a district can propose as part of its annual budget and needs only a simple majority of voters (50% + 1), supermajority needed (60%) to exceed the tax levy limit. Reported to state comptroller by March 1st each year. Maximum Allowable Tax Levy (includes exclusions) eTax levy Limit PLUS certain exclusions. eA District may add these exclusions to its tax levy without triggering the need for a 60% voter approval. Proposed Tax Levy eThe total amount of money to be requested by a school district after factoring in all other available revenues 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 1 Tax Levy Prior Year + $45,422,572 2 Tax Base Growth Factor x 1.0040 3 PILOTS Receivable Prior Year + $44,702 4 Capital Tax Levy Exclusion - $2,836,262 5 Allowable Levy Growth Factor x 1.0200 6 PILOTS Receivable Current Year - $46,043 7 Available Carryover from Prior Year + 0 8 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 9 Capital Tax Levy Exclusion - Current Year + $2,699,966 10 Levy for pension expense -TRS & ERS + 0 11 Total Exclusions + $2,699,966 12 Total Tax Levy Limit, Adjusted for Transfers Plus Exclusions = $46,322,880 13 Proposed Levy for Current Year, = $46,322,880 14 Allowable Tax Levy Percentage Increase 1.98% 15 Dollar Growth in ATL $900,308 16 Is the District Planning to Override the Cap NO Tax Based Growth Factor _ cain 1.0220 ; CROTON OYHARMON 1.0200 ‘ 1.0150 | | : 1.0100 1.0059 1 1.0040 1.0050 1.0056 1.0025 1.0030 . =, 1.0039 1.0040 1.0016 1.0000 2018 2019 2020 2021 2022 2023 2024 2025 2026 Tax Levy Growth Factors Inflation Factors and Allowable Levy Growth Factors 8.00% 8.00% 6.00% : 4.70% AAD 4.00% 2.95% 2.63% . 2% 2% a% De 2% 2.00% 1.23% i i 0.00% Ol 2021 2022 2023 2024 2025 2026 mCPI @ ALGF 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 @