GASD Budget Analysis
The following numbers and figures are from the GASD Web site Q&A (here) and Budget Proposal (here).
As the Q&A states the following, I am going to quote it although you will see that in fact projections on the tax rates have been made. Still here it is:
Q. How will this effect school taxes?
A. The resulting tax levy will increase, however, the amount of the increase has not yet been determined. Projections for 2009-10 property tax rates have not yet been determined.
On a top line level, the budget has increased 4.54% from last year’s $52.949 million to $55.354 million for 2009-2010. If the budget needs to go to contingency, the district would be capped at 4% above last years budget resulting in a $55.066 million dollar budget. So contingency would mean cutting approximately $289K more from the proposed budget.
While the Q&A hedges on the final rates, the report does provide details on the projected tax levy changes with current assumptions. On a top line basis, the Local Real Property Tax Levy increases from $17.15 million to $19.099 million for an 11.37% increase.
If you look at it by municipality, the tax levy changes are as follows:
City of Amsterdam +11.16%
Town of Amsterdam +12.14%
The bottom line appears to be a sizable increase in tax rates given the following:
1) Not much wiggle room in the fund balance to offset the tax increase as already $1.5 million in fund balance has been allocated leaving only $291K in fund balance.
2) Contingency drops the increase by 10% or so but still 10% off of 11+ % is still a 10+% overall tax rate increase.
3) No expected influx of state or federal dollars to offset local property taxes. I’m not sure if this may change so this is certainly an area of questioning for the school board.