The Roslyn School District will receive $5,063,165 in state aid for the next school year, a 16.34 percent increase from the $4,351,877 it received for 2014-15, officials said.
The figures were unveiled during a Board of Education meeting Wednesday, during which officials described the district’s tax rate calculation for 2015-16 and outlined budgetary changes that have taken place since it was first introduced in February.
Roslyn’s adjusted budget, as of April 1, stands at $103,851,841, the result of $670,265 in spending increases due to more definitive cost estimates than had initially been anticipated, officials said. The budget represents a 1.09 percent spending increase from 2014-15.
Voters will determine whether to approve the budget on May 19. The board of education plans to adopt the budget on April 21.
During his presentation, Assistant Superintendent of Business Joseph Dragone said the district expects to receive $670,165 more in revenues than initially projected, the result of more students from outside the district utilizing its special education program, a $93,515 insurance recovery and a $111,672 refund of prior expenses. The district is also anticipating a 17.33 percent increase in revenues from payment-in-lieu-of-taxes programs.
Roslyn School District homes in both the Town of North Hempstead and Town of Oyster Bay will each carry a $880.264 tax rate in 2015-16, up from $880.264 in 2014-15, despite a reduction in the average assessed value of homes within each town.
North Hempstead homes, which represent 5,275 households within the district, will see a 2.36 percent average reduction in their assessed value, while Oyster Bay homes, representative of 39 district households, will see a 5.22 percent average reduction, Dragone said.
Despite the drop in value, Dragone said Roslyn households should expect to see a .7 percent increase to their tax bills for the next year.
Roslyn plans to carry a $73,659,707 tax levy for the 2015-16 school year, which officials said falls within the district’s allowable levy limit with the state.
