[April 24, 2014] Last evening, the Board of Education voted to adopt the proposed 2014-2015 budget. The adopted budget totals $130,372,327, which represents a 1.85% budget-to-budget increase from the 2013-14 school year and a tax levy increase of 0.82%.
For the coming school year, the District will lose over $2M in State Aid promised, but not delivered, due to the Gap Elimination Adjustment (GEA) law—bringing Ramapo Central’s cumulative loss in State Aid due to GEA to $12.5M since 2010-11. Chronic underfunding by the State has forced the District to spend down its savings, resulting in a “planned deficit” for each subsequent fiscal year.
To cover the State Aid shortfall due to GEA for 2014-15, Ramapo Central must once again rely on its reserves. The District proposes the use of unrestricted tax certiorari reserve funds in the amount of $780,290 and the allocation of $1,000,000 from the liquidation of encumbered purchase orders for tax certiorari, in accordance with the District’s Corrective Action Plan in response to the New York State Comptroller’s Audit Report.
The school budget vote will held on Tuesday, May 20. Polls will be open from 6am until 9pm. For voting information, please call (845) 357-7783 x11234.