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Planned deficit of $2.3M looms for 2014-15

posted Mar 27, 2014, 6:34 AM by Doreen Dedrick   [ updated Mar 27, 2014, 6:35 AM ]
[March 27, 2014] Despite a modest 1.85% budget-to-budget increase, the Ramapo Central School District is looking at a planned deficit of $2.3 M for 2014-15, according to the March 18 Board Budget Workshop presentation by Assistant Superintendent for Business Kelly Seibert.

"Simply put, we are overspending our budget and dipping into savings to make up the difference," stated Seibert. "We are spending down our reserves, which is unsustainable."

In fact, the District learned last month that, due to an adjustment to the funding formula by the State Comptroller's Office, its maximum allowable tax levy has dropped from the February 4 calculation of 1.04% to .92%.

"All New York State public school districts received clarification that they may not use actual figures for exemptions, but instead must use the same figure used last year," said Superintendent of Schools Dr. Douglas Adams. "Those who do not comply will be subject to review."

The tax levy drop to 0.92% translates to a revenue loss of $132,000, which will be added to the District's tab, increasing the total use of reserves to $2.3M.

Community members are encouraged to stay informed throughout the budget development process by attending the Board budget workshops. The final budget workshop is scheduled for 6:30pm on Tuesday, April 8 at Cherry Lane Elementary School.

Information regarding the budget development process can be found on the District's budget webpage. Budget-related questions may be sent to budget@ramapocentral.org.