Voting Results – May 17, 2016
2016-2017 Budget PASSED: 473 Yes – 203 No
Voters also elected Craig Simmons, Muriel Faxon, and Melony Spock to three-year terms on the Board of Education that run July 1, 2016 through June 30, 2019.
Voting results for Board of Education Election:
Craig Simmons 560*
Steve Gilger 196
Wayne Coe 204
Muriel Faxon 533*
Melony Spock 471*
2016-17 School Budget
The 2016-17 school budget totals $30,542,416, an increase of 2.14% over the previous year’s budget, and carried a tax levy increase of 0.8856%, which was the District’s tax cap for 2016.
2016-17 Budget Development Presentations
Property Tax Cap Information
For 2016, Chatham Central School District’s tax levy cap was 0.8856%.
What is a fund balance? How is it used?
A fund balance is a reserve much like a homeowner’s savings account. When a school district’s expenses are less than what was expected or revenues are higher than expected, the money is held in the fund balance. Districts use fund balance each year as revenue in the budget to minimize spending cuts and stabilize tax increases. The money is also used for unforeseen expenses throughout the school year. By law, a school district’s fund balance cannot exceed 4% of the next year’s budget. School districts must plan carefully how they use their fund balance to ensure it does not run out.