May 17, 2017 10:34 AM
Troy City School District residents approve budget and
Capital Reserve Fund proposition, re-elect Board members
Troy, NY - Troy City School District residents have approved a $112 million budget for the 2017-18 school year as well as a proposition to establish a Capital Reserve Fund. In addition three incumbent candidates have been re-elected to the Board of Education.
The unofficial results of the budget vote are 505 (yes) to 132 (no). This $112,018,797 budget will result in a 0.45-percent tax levy increase – a figure at the allowable tax cap.
This educationally sound and fiscally responsible 2017-18 school budget was developed without any reductions in staff or programs. It preserves all of the added supports in the current year’s budget including the five elementary school teachers which have allowed the District to maintain small class sizes. The District is also adding supports for Special Education.
Overall, the approved budget is 0.8 percent lower than the current year’s budget. The 2016-2017 budget included a $3.5 million “Transfer to Capital” line, consisting of one-time revenues used to pay for the local share of the 2016 Capital Project. Operationally, the approved budget increases spending by 2.4 percent.
The unofficial results of the Capital Reserve Fund Proposition vote are 509 (yes) to 117(no). The District may fund the Capital Reserve over the course of 10 years for the purpose of financing the local share of any future construction or reconstruction projects of its facilities. The reserve may be funded up to a maximum of $4.5 million. There is no tax implication to establish the reserve.
Three unopposed incumbent members were re-elected to the Board of Education for three-year terms effective July 1, 2017:
Carol Harvin (506), Tom Mayo (500) and Bill Strang (504).
“Thank you to the Troy City School District residents who came out in support of our proposed budget and Capital Reserve Fund,” said Superintendent John Carmello. “This year’s budget development process was much more difficult than in previous years but we got the job done and have once again delivered a plan that will help our children succeed without overburdening the taxpayer.”
“On behalf of the entire Board of Education, I would like to sincerely thank the residents for voting today,” said Board of Education President Jason Schofield. “The budget and Capital Reserve Fund are both part of our long-range planning that will continue to transform the District.”
“Thank you to everyone for their support of our 2017-2018 budget and Capital Reserve Fund,” said Board of Education Vice President Tom Mayo. “Thank you to the Board of Education and the Troy CSD administrators for their hard work in developing these plans and a personal thank you to the residents for supporting me in my re-election.”
Updated: May 17, 2017 10:34 AM
Created: May 16, 2017 09:25 PM
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