WPCNR SCHOOL DAYS. By John F. Bailey. March 9, 2009: The first Board of Education Budget Hearing on the 2009-10 budget was held tonight, and the school board announced no new reductions in the budget. The Assistant Superintendent for Business Fred Seiler confirmed that the new Assessment Roll i(as previously reported by WPCNR last week) is at $286.8 Million, requiring the district to generate a tax levy of $149.9 Million on a school budget of $185.9 Million. Seiler pegged the new tax rate White Plainsians will pay at $522.68 per $1,000 of assessed valuation. Two years ago, that tax rate was $474.61 per $1,000.

HEARING NIGHT, EDUCATION HOUSE.
Seiler blamed this year’s increase on the $5 Million drop in city assessments combined with a loss of state aid of $1.5 Million next year, and the increase in the debt service for the capital project, the last installment of which will be borrowed for in 2009-10.
For reference, if you own a White Plains home priced at $700,000, with an assessed value (after the STAR BASIC EXEMPTION computation of $15, 100 — you are paying $7,618 in school taxes this year. Next year you will pay $7,892.47, unless more state aid is forthcoming. A school tax increase of $275. If your house is worth $1 Million and up, depending on your assessment you’re going over the $10,000 mark in school taxes.

REVENUES FINALLY UNVIELED. Note whack out of state aid, $1.6 Million and Interest on Investments ($850,000) necessitating $2.4 Million of the $3.1 Million budget increase.
Superintendent of Schools Timothy Connors said any aid coming from the state bailout stimulus now being dolled out in Albany will not likely be showing up in school districts until 2011-2012 and 2012-2013.
$185,912,042 Budget is $7.2 Million less than allowed Contingency Budget
Fred Seiler pointed out that by the state forumula the school district would have been allowed a Contingency Budget of $193.2 Million, noting that the budget presented tonight was 7.2 Million less than if the district had decided to raise the budget to the allowable Contingency Budget level — a level first predicted by WPCNR in the early budget process.

The District options, if the budget were to be defeated would be: resubmit the same budget or lower it below the budget first presented. Seiler assured the public that if the $185.9 Million school budget was voted down May 19, the school district could not submit the allowable Contingency Budget. The district could either resubmit the $185.9 Budget for a revote or lower it.
Mr. Seiler said the tax levy increase of $3,164,930 was 2.16%, the lowest in Southern Westchester, and that the budget-to-budget increase of .81% was the second lowest in Southern Westchester.
Apres Moi, le Deluge.
Seiler cautioned that next year the district faced a major increase in contributions to the teachers and state employee retirement funds due to the plunge in investment returns due to the “Catastrophe of 08″
Three persons spoke at the hearing before a packed Education House of about 100 persons.



