The School Budget Explained
To read an article, click on the title.
Budget codes are specified by the State Comptroller's Office under what is called the Uniform System of Accounts.
When the voters of a school district fail to approve a school budget, the district is required by law to operate under what is called a contingent or contingency budget.
Fund balance is an aspect of fiscal management which is unique to public entities like school districts. When properly managed, are an effective budgeting tool and beneficial to taxpayers.
School spending is the only part of the property tax scenario over which the school district has direct control.
Reserve funds are a kind of savings account for school districts. They are often informally referred to as "rainy day" funds.
The School Budget Vote
New York's locally elected Boards of Education are required to present a spending plan annually for the approval of the voters in each district.
The Tax Levy Limit: When is 2% not really 2%?
School districts in New York prepare are guided by rules that place limits on the size of the annual tax levy. Though these limits are commonly referred to as a “two-percent cap” on school taxes, the term is misleading because the regulations are rather complex.