Written by Rich Forestano, email@example.com Friday, 07 December 2012 00:00
Teacher retirement in the Mineola School District could affect next year’s tax levy, which has a state-imposed 2 percent limit that was put into law in 2011. Finance Superintendent Jack Waters revealed that the district could have $800,000 exempt from the cap due to the estimated retirement costs that would go into effect in the 2013-14 school year.
Waters said the Teacher Retirement System (TRS) increases for next year is about $1.5 million. Mineola under state law could put out a 3.05 percent increase for the next year, with half of the estimated TRS cost spikes not included, leveling out piercing the cap, a move the district does not want to make.
Pension cost estimations, according to Waters, could be anywhere from 15.5 to 16.5 percent or $5.9 million. Employee cost rates for this year is 11.84 percent, with an estimated increase of 4.16 percent next year. The 2012-13 TRS payroll totals $37 million.
The first 2 percent of the employee cost rate is included in the levy cap calculation, according to Waters. Any increase over the 2 percent is exempt from the levy cap, which means if the district chooses, it can exceed the cap.
“It still has to be paid,” Waters said. “For example, where the first 2 percent has to be included in the levy cap, $740,000 is part of the calculation we have to prove to the state that this is where our pension costs are. The additional 2.16 percent ($800,000) is outside the cap and would be reflected as an exempt amount in terms of proving to the taxpayer that we have complied with the 2 percent [cap].”
Last year’s tax levy totaled $76,242,180. Waters said regardless of the exemption, the district would still work to not float a 3.05 tax levy increase.
“We would go out with a tax levy of 3.05 for the 2013-14 year but we would comply with the state saying the 1.05 [percent] is exempt. [The 3.05 percent] is something, all things being equal I don’t think we’re going to work towards.”
District Superintendent Michael Nagler pointed out that TRS alone is more than the 2 percent cap, “which is not good. What will be allowed under the law of the cap, we would be allowed to go out with 3 percent. That would be within the cap parameter. So it’s kind of a misnomer that you get this exemption; it’s a bad word because you’d think you’d be exempt from paying it, you’re not. It just doesn’t figure in to the 2 percent [state cap].”
Nagler noted that the TRS budget line is significant in how the district crafts a budget for next year. In May, the district floated and passed a $83,992,180 budget, a decrease of $229,458 or a 0.27 percent drop in spending from 2011-12.
“The levy calculation this year has some added twists in it,” said Nagler. “ Putting a budget…our norm has been around 2.5 [percent] over the last four or five years. It’s going to be a challenge to get to that number this year, but we haven’t really started crafting the budget yet. We’re just looking at big numbers. When we start to apply how we craft the budget, we’ll have news on this as we go along. This number is pretty astronomical and there’s no indication that this is leveling off.”
Board President William Hornberger said according to State Comptroller Thomas DiNapoli, that Mineola should anticipate future increases in employee cost rates.
“Everything is dependent upon the global capital markets and what’s driving their rate of return,” Hornberger stated. “Last year’s rate of return for the fiscal year ending June 30 was 2.8 percent. Apparently, that wasn’t good enough.”
Wednesday, 18 December 2013 00:00
The Mineola Village Board approved the much-debated, revised plan for Bolla Market to build a gas station and convenience store at 449 Jericho Turnpike last week. The property was hotly contested at hearings in October and November due to the property abutting village residences and the proposal calling for a 24-hour gas station and convenience store.
The 2,250-square foot business will be open seven days, 5 a.m. to 11 p.m., seven days per week, according to papers obtained by the Mineola American. Bolla reps confirmed that this is the first non-24 hour Bolla Market station in the entire company.
Forty-two of CEO Harry Singh’s 85 Bolla locations have a convenience store. The Mineola site will hold six 2-sided gas pumps and one store.
Saturday, 14 December 2013 00:00
Mineola High School senior, Jennifer Vasek and her mother have suffered for years from a rare disorder called Chiari malformation. Both have endured several brain surgeries yet still suffer from Chiari symptoms on a daily basis. They include headaches, nausea, dizziness, blurred vision and loss of balance. Chiari malformations occur when the base of the brain protrudes through the lower skull and touches the upper part of the spinal cord, creating numerous neurological symptoms. The only accurate way to identify Chiari is with an MRI of the neck.
Thursday, 12 December 2013 00:00
Students in the Karatatot Kids program at Charles Water Karate And Fitness in Williston Park get a chance to participate in “Special Time” at the end of each class. This is an opportunity for them to share something special in their lives with their teacher. It was created by Charles Water for the Karatatot class students to have a productive and fulfilling class and the children wait to the end to share their thoughts.
Karatatot is a combination of exercise and karate in a format specifically designed for children ages 4½ and up. In a fun filled and nurturing setting children learn concentration, discipline, respect, as well as an understanding of self defense at his or her own level. The results are improved strength, coordination, and flexibility and the self confidence for children.
Thursday, 12 December 2013 00:00
MAA Soccer is offering an indoor soccer program during January and February for soccer players born from 2006-2009. Each registrant will enjoy six, one-hour training sessions on Saturday’s during the first two months of 2014. The program is managed by MAA’s training partner, Empire Soccer Academy, and is designed to encourage soccer skills improvement through fun and challenging drills and games.
The clinics take place at the Mineola Village Community Center gym at 155 Washington Avenue. For more information, please visit www.mineolaaa.org or email firstname.lastname@example.org.