LP budget proposal calls for 3.4 percent tax hike



SPECULATOR - The Lake Pleasant Central School District will propose a 2013-14 budget next week that would raise the tax levy by 3.43 percent, $66 less than its cap for this year.

The cap is above 2 percent because part of the tax levy is excluded from the calculation. Capital expenditures, payments in lieu of taxes and pension costs may be excluded when calculating the tax cap.

Exclusions total $476,154; for the current school year they are $444,182.

The proposed budget of $4,855,714 is up $201,045 or 4.3 percent from this school year’s $4,654,669. Most of the increase is due to the cost of benefits going up by $184,481.

The tax levy would be $3,517,700, up $116,700 from this year’s $3,401,000. Debt service accounts for 14 percent of the tax levy.

State aid is going from $538,197 to $579,479, up $41,282 or 7.67 percent. This accounts for 11.9 percent of appropriations, up 0.3 percent.

The annual vote will be Tuesday, May 21, from 12-8 p.m. in the pre-kindergarten room. In addition to the budget vote, Andy Weaver is running for another five-year term on the Board of Education and Florence Braunius is running to fill the remaining year of Crystal O’Connor’s term in office. O’Connor resigned.

Voters will also be asked to cast ballots on additional spending:

-- one school bus for up to $50,000 with money from the Bus Reserve Fund; and

-- $183,000 from the Capital Reserve Fund for computers, furnishings, bus radios, security equipment, instructional and technology equipment and a replacement generator and related equipment.