KATONAH The Katonah-Lewisboro School Board set its tax levy the amount of money needed to be raised by taxes at $99,783,239 at its meeting last week.
The number remains unchanged from the estimated amount presented to the voters in May when they passed the school budget. It does represent a 2.98 percent increase from the 2010-11 school year tax levy.
The district was able to allocate approximately $2.7 million in reserves and fund surplus last spring to the budget to limit the tax levy increase.
District officials said with the state tax cap legislation now finalized and slated to begin in the 2012-13 school year, the district has maintained and smartly utilized its equity portfolio in order to minimize the impact to its staff and programs over the coming years.
We recognize that the new financial reality in schools is going to continue to require expert long-term planning in the use of resources, said Assistant Superintendent for Business Mike Jumper. With the communitys support, we look forward to maintaining a high-quality instructional program.
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