continued According to F-M’s 2013-14 budget proposal, state aid would account for about 23 percent of the district’s revenue, and the tax levy would account for about 72 percent.
The final state budget allocates about $17.5 million in state aid to Fayetteville-Manlius. That’s an increase of $1,068,645, or 6.48 percent compared to the current school year.
However, much of that money – about $11.5 million – is to reimburse the district for expenses from previous school years in areas such as transportation, BOCES and construction. The biggest increase, about $600,000, is to offset new debt service for current construction projects.
The proposed tax levy increase of $1.3 million represents a 2.51 percent increase compared to the current year.
The district’s estimated maximum allowable tax levy limit increase is 3.28 percent, according to the state’s Property Tax Levy Limit Law. Any tax levy increase up to and including that amount would require a simple majority (50 percent + 1) of voters to approve the budget, according to the law. Any tax levy increase greater than that amount would require a supermajority (60 percent) for budget authorization.
The proposed tax levy increase of 2.51 percent will require a simple majority vote for budget authorization.
To offset the need to either further increase the tax levy or cut programs to balance the budget, the district is proposing using $1.6 million of fund balance as revenue.
School officials project that 2013-14 property tax rates would increase by an average of 2.31 percent, assuming the same level of increase in local property assessments as in 2012- 13. The actual tax rates will be available in August for all five towns within the district. The school district does not have any control over assessment increases or changes to the equalization rate.