TOWN OF CHAMPION, New York (WWNY) – One of the largest school districts in Jefferson County plans to leave school taxes right where they are.
Carthage Central Superintendent Jennifer Premo’s proposed school budget has no tax increase, while the district will spend $5 million more next school year.
Premo said $2.5 million of that is the cost of health insurance. She said the interest made off of savings will cover that $2.5 million.
The school continues to carry an out-of-line unassigned fund balance, exceeding the state’s rule of having no more than 4 percent of cash on hand. Carthage’s rainy-day fund is around $33 million.
That’s nearly 10 times more than what the state says a school should have in the bank.
Other years, the district has cut taxes, but this year it’s a zero percent change.
“In alignment with our long-range fiscal plan, the District is committed to a controlled spend-down of our fund balance. This fiscal discipline enables us to absorb rising costs, such as healthcare, without passing that burden onto our residents through higher taxes,” Premo said.
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