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Putnam Valley School's Proposed 07-08 Budget to Budget Increase to be 5.46 Percent
Search for new Superintendent proceeding
by Margaret Sternberg
The March 15, 2007 meeting of the Putnam Valley Board of Education saw the unveiling of the district's proposed 2007-8 budget, which increases 5.46 percent from the 2006-7 budget.
Based upon current numbers, Putnam Valley taxpayers could expect a 2.49 percent rise in their school taxes, Cortlandt taxpayers a 3.93 percent rise and Carmel taxpayers a 6.52 percent rise. Currently, for 2007-8, for each $1,000 of assessed value, taxpayers in Putnam Valley can expect to pay $18.59, in Cortlandt $1,161.72, and in Carmel $38.93.
The presentation focused on the revenue aspect of the budget and included formulas so that residents could calculate what their approximate school taxes will be in the coming school year.
Superintendent Gary Tutty explained that the district's revenues come from five sources: state and federal sources, local non-tax sources, school tax reimbursement (the STAR program), the appropriated fund balance, and the real property tax levy (minus STAR.)
The total for federal and state sources of revenue is $7,786,023, of which only $25,000 is from the federal government for Medicare reimbursement. The remaining funds are from the state and derived from basic formula aid, BOCES aid, textbook aid, computer software aid, library materials aid and other state aid.
Local non-tax sources are comprised of Westchester sales tax, charges for services, interest, employee health contributions, interest/penalties on property tax and miscellaneous refunds and insurance recovery. This area is contributing $649,800 in revenue for 2007-8.
STAR reimbursement will total $4,137,132. Eligibility for the STAR exemption was detailed and required application for the exemption by March 1. The exemption only needs to be applied for once. The enhanced STAR exemption requires residency, age 65 or older, imposes income requirements, which change yearly, a March 1 deadline for application and an application yearly.
The district currently has $1,060,000 in the appropriated fund balance and will use $250,000 in the 2007-8 budget, leaving an estimated $810,000 in the unreserved fund balance after the budget.
The real property tax levy, minus STAR, is derived from Fahnestock State Park taxes of $446,030, which the district is receiving for the first time this year, and the real property taxes of 27,726,247.
Added together the total revenues for the district are $40,995,232.
For the first time, the district was able to present a way for residents to calculate the approximate amount their 2007-8 school taxes. For residents of Putnam Valley and Carmel, the formula is the amount of assessed value multiplied by the rate per thousand dollars of assessed value, divided by 1,000. The total is the amount of taxes before the STAR exemption. The STAR exemption is then subtracted from that amount to arrive at the estimated 2007-8 school tax.
Putnam Valley basic Star rates last year were $1,232.29 and Enhanced STAR was $2,333.11. Carmel's basic Star rates last year were $1,236.90 and Enhanced STAR was $$2,341.68.
The formula for Cortlandt differs only in that Cortlandt is not assessed at full value (according to the formula, Cortlandt is at 1.6 percent of full value,) and it was suggested residents check their assessment. Otherwise the formula is the same. Cortlandt's basic Star rates last year were $2,591.82 and Enhanced STAR was $4,889.38.
New, estimated STAR exemption amounts are expected in late spring, and are expected to be finalized in early summer.
Although the formula was expected to produce fairly accurate results, Superintendent Tutty noted that several variables can affect the results, including reassessments, whether the state budget passes on time, whether the state appropriates additional aid, as well as a special equalization rate for Putnam Valley, which will be determined by the Office of Real Property Tax in August.
Tutty said that anyone with questions or comments could e-mail the school at budget2008@pvcsd.org.
In other business, the search for a new superintendent is continuing, with a March 20 meeting having been scheduled with BOCES, during which the qualified candidates would be narrowed down to a slate of from six to eight individuals who would have subsequent interviews with the board. From those candidates, several finalists will be selected, who will be interviewed between April 11-18.
Board members and a confidential "constituent group" committee made up of a designated representative from each of the following groups: school teachers, building administrators, CSEA support staff, central office, town board, public library, the Putnam Valley Business Association and the Rotary will each meet the finalists separately. The committee will then give the Board of Education its recommendation, and the Board will decide among the finalists.
Board President Tina Mackay said that BOCES had been extremely pleased with the number and quality of the applicants, adding that although the Board of Education had expected three finalists, the board has set aside four dates for final interviews based upon the BOCES' remarks.
The next meeting of the Putnam Valley Board of Education will be Thursday, March 29, at 7pm.
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