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05/17 The Board of Education hosting a public hearing 5 PM

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05/17 The Board of Education hosting a public hearing 5 PM

May 08, 2016 - 11:09
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The Board of Education hosting a public hearing

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NEW ROCHELLE, NY -- The Board of Education will host a public hearing at its 7 p.m. meeting to listen to public comments on its proposed $253,685,636 budget for the 2016-2017 school year. The budget proposal includes a $3,564,473 increase, or 1.42%, over the previous year’s budget. It has a 1.11% tax levy increase, which means the district meets the state’s required tax levy cap. Therefore, the district needs a simple majority of voters to approve the budget on May 17.

The Board of Education is also putting before voters a $106,479,575 capital bond project proposal, which will be explained by Superintendent Dr. Brian G. Osborne. The bond will fund urgent infrastructure needs in every school and address significant and necessary health and safety projects. The bond will also keep taxes stable for residents, as there will be no net increase in debt service over the lifetime of the bond. The District will be completing payments on existing debt, current interest rates are at historically low levels, and New York State will reimburse 48.7 percent of the cost of the projects.