2023                    5130

Non-Instructional/Business Operations

SUBJECT:    BUDGET ADOPTION

The Board will review the recommended budget of the Superintendent and seek public input and feedback regarding the recommended budget including, but not limited to, holding a public budget hearing not less than seven nor more than 14 days prior to the Annual District Meeting and Election at which the budget vote is to occur. The Board may modify the recommended budget of the Superintendent prior to its submission to District voters. Final authorization of the proposed budget is dependent upon voter approval unless a contingency budget is adopted by the Board.

The District budget for any school year, or any part of the budget, or any proposition(s) involving the expenditure of money for that school year, will not be submitted for a vote of the qualified District voters more than twice.

The District budget, once adopted, becomes the basis for establishing the tax levy on real property within the District. The District will post its final annual budget and any multi-year financial plan adopted by the Board on its website.

Contingency Budget

In the event the original proposed budget is not approved at the Annual District Meeting and Election, the Board may resubmit the original proposed budget or a revised budget for voter approval, or individual propositions may be placed before District voters, at a special meeting held on the third Tuesday of June. If the voters fail to approve the second budget submittal, or budget proposition(s), or if the Board elects not to put the proposed budget to a public vote a second time, the Board must adopt a contingency budget with a tax levy that is no greater than the prior year’s levy (i.e., 0% levy growth).

The administrative component of the contingency budget is capped at the lesser of:

a) The percent of the administrative component to the total budget in the prior year’s budget, not including the capital component; or

b) The percent that the administrative component comprised in the last proposed defeated budget for the subsequent year, not including, the capital component.

• Education Law §§ 1608, 1716, 1804, 1906, 1950, 2007, 2022, 2023,   2023-a, and 2601-a
• 8 NYCRR §170.3

NOTE: Refer also to Policy #5110 – Budget Planning and Development

Adopted:  8/24/11

Revised:  9/24/13; 9/22/20; 5/23/23