The Cherry Valley-Springfield District Board of Education approved the $13,026,239 budget for the 2014-2015 academic year last Thursday. The voters will vote on the budget at the district wide budget vote and board election on May 20.
The budget has an increase of $184,148 or 1.43 percent from last year’s budget, said Tim Ryan the CV-S superintendent.
“This is a small increase when you look at it that way,” Ryan said.
In order to meet the needs of the district Ryan and the BOE will require a 3.49 percent increase in taxes. The cap is 3.96 percent, so there has to be a majority voter approval in order for this increase to pass.
“We’re staying way under our levy cap,” Ryan said.
“We’re just hoping to build for the future,” he continued.
Ryan said he has heard some concerns from citizens about the increase being above two percent. However, he said that he wanted to stress that for homeowners with a house worth $150,000 this is only an increase of $5.25 per month or $63 dollars annually.
CV-S officials have also linked to a video called New York State Property Tax Cap by educationspeaks.org on the website www.cvscs.org. There will also be information in the newsletter about the increase and what it means for taxpayers.
Ryan said without this increase, by 2017 there would be no fund balance or reserves to pull from and then the district would need to raise taxes by 10 percent in order to make ends meet.
“It’s necessary this year because if we were to go in at a 1.9 percent increase that allows us not to put anything in for the future,” Ryan said.
“We would still have to pull from the fund balance and reserves,” Ryan continued.
The goal is to build a small cushion so that that CV-S will not have to face a time where there is no fund balance or reserves.