56°
BRIARCLIFF MANOR, N.Y. - More than 27 percent of the Briarcliff School District's annual budget is used for employee benefits and debt service.
In the second in a series of seven planned sessions on the separate components of the budget, Assistant Superintendent for Business & Technology Stuart Mattey outlined the bare bones figures for the Board of Education.
The board is slated to adopt a budget for the 2012-13 school year on April 16. The community-wide vote on the budget will be held May 15.
Employee benefits for 300 active employees and 100 retired workers is projected to cost $10.1 million next year. Board of Education President Guy Rotondo noted over the last five years employee benefits have increased $2 million.
"It's pretty sobering stuff," Rotondo remarked.
The district's debt service for principal and interest of four bonds next year is $3.3 million. One of the bonds stems from a 2006 oil spill at Todd Elementary School. The district currently owes more than $25 million in outstanding bonds.
Looking ahead, Rotondo is hopeful Gov. Andrew Cuomo's plans for reforming employee pensions could be beneficial to the district, noting pension costs have risen 50% over the last four years from $2 to $3 million.
"That has the potential to provide the state and our district with millions of dollars in the long run," Rotondo said.
Click here to follow Daily Voice Briarcliff and receive free news updates.
