The School Budget Explained

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  • Budget Codes

    Budget Codes

    Budget codes are specified by the State Comptroller's Office under what is called the Uniform System of Accounts.

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  • Contingent Budgets

    Contingent Budgets

    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.

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  • Fund Balance

    Fund Balance

    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.

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  • Property Taxes

    Property Taxes

    School spending is the only part of the property tax scenario over which the school district has direct control.

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  • Reserve Funds

    Reserve Funds

    Reserve funds are a kind of savings account for school districts. They are often informally referred to as "rainy day" funds.

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  • The School Budget Vote

    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.

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  • The Tax Levy Limit: When is 2% not really 2%?

    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.

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