The Manhasset School District’s projected budget surplus by the end of fiscal year 2016-17 will reach almost $2 million, according to a presentation delivered last Thursday by Rosemary Johnson, the deputy superintendent for business and finance.
The district presented its projected 2016-17 revenue and expenses as they pertained to the upcoming development of a 2017-18 budget, Superintendent Charles Cardillo said.
“It’s a global view,” he said. “Not as a granular as we will be in other meetings.”
The district projects total 2016-17 budget revenue of $92,428,139 with an end of year surplus of $1,938,517.
The district will dedicate $855,103 of the surplus to the 2017-18 tax levy.
A fund balance of $1,083,414 will remain, according to a district report. The district has yet to decide how it will allocate that remaining fund balance.
The district projects $79,976,497 in property tax revenue by the end of fiscal year 2016-17, which will make up the single largest source of revenue.
Other sources of revenue include health service provided for other districts, day school tuition charged to students from other districts and driver education tuition, among others, the report said.
Projected 2016-17 expenses will total $90,489,621, according to the report. The largest expense for the district is compensation, which is projected to account for $48,673,666.
Other expenses include equipment, transportation, legal services, supplies and employee benefits, among others, according to the report.
At the time of publishing, Johnson planned to deliver a full 2016-17 fund balance update to the Board of Education at a public meeting at 8 p.m. on March 9 at the middle school library.
On March 11, a public budget work session will take place at 9 a.m. at the middle school library.
