$1.6 million from reserves to pay down the tax rate....Now you are starting the
next year with a shortfall in revenue of $1.6 million.....There is no way to make this up.........TROUBLE AHEAD.....Raising Taxes.
Undesignated reserve down to $763,000 (newsday 12/09) this is very low since NYS guidelines suggest $1.4 million, (external auditor 12/08)
Reserve fund is down to $1,957,355 (newsday.com), money cannot be used for tax reduction only specific purpose (special projects), the external auditor said this money is earmarked for projects (12/08)
(newsday.com) reported 2008-09 appropiated fund $1,775,000. (The Press 4/10) reports the fund being reduced by $1,600,000.
In English
Undesignated fund $763,000
Reserve fund $1,957,335 (earmarked for special projects)
Undesignated fund $175,000
What about the 4 million dollar short term loan the BOE used for cash flow?
He started with $50,000, leaving us with -$400,000 in app/unapp reserves the following year....folllowed by large increase in enrollment, reduced state and federal aid..........
Right, the increase in enrollment is his fault? Decrease in state aid is his? You do not know what you are talking about. BTW, federal aid increased so that the state was able to cover the shortfall (ARRA money), please have your facts before you post.
