Written by Betsy Abraham, email@example.com Wednesday, 29 May 2013 00:00
Carle Place residents voted to pass the budget last week, 595 to 251. The $47,579,305 budget has a two percent tax levy increase, well below the calculated tax levy limit of 3.08 percent.
“The board of education did a tremendous job in listening to the input and concerns of the community,” said Superintendent David Flatley. “I believe because of that transparency, the community felt they could support the budget and that’s really the way this process is supposed to go forward.”
Voters also approved two propositions. The authorization to establish a capital reserve fund passed 554 to 235. The current capital reserve fund expires in about six years, and the approval of a new one allows the district to start saving for future renovations, construction and reconstruction of district buildings. The fund will have a $10 million cap, and be funded over a 15 year period in a manner identical to the current capital reserve.
The second proposition, to establish a repair reserve, was passed 561 to 223. This reserve has a $1 million cap over a five-year period. Money from this reserve will go toward paying for repairs to capital improvements or equipment. The current repair reserve, which expires this year, has been used to pay for repairs such as underground fuel tank alarms, tennis courts, the Cherry Lane roof and masonry work. Fortunately for the district, these repairs had no impact on the budget, because a repair reserve was in place.
The creation of both reserves has no direct cost to the budget, but requires voter approval. By using reserves, Flatley estimates that the district will see significant savings, since they won’t have to pay the interest and personnel costs that come with floating a bond. Both of the reserves will be funded through the allocation of unappropriated monies at the end of the school year.
“We’re going to be able to plan for the future. About every 10-15 years the district needs some significant work, whether it’s replacing a roof or improving the library,” Flatley said. “In terms of having a vision, we felt that this was good planning.”
Trustee Lawrence F. Zaino, Jr was also re-elected to serve on the Board of Education for a three-year term commencing July 1. Zaino ran unopposed.