Seaford schools asks to create $20 million reserve fund

The Seaford School District is proposing a 2018-19 budget of just over $68.4 million — a 2.62 percent increase over the current budget — with a tax levy increase of 2.69 percent.

The tax implications for the average Seaford homeowner, under the proposed spending plan, were not available.

On May 15, Seaford residents will vote on the proposal, as well as the establishment of a $20 million general capital reserve fund. The fund would be created by surpluses of no more than $2 million a year for 10 years, according to the district’s budget presentation, and fund projects that include renovating classrooms, auditoriums, gymnasiums, locker rooms, cafeterias, libraries, technology centers, bathrooms, building exteriors and windows, the installation of solar power and the purchase of new vehicles.

Elisa Pellati, the district’s assistant superintendent for business, said that reserve funds are funded by any remaining excess or fund balance at year’s end. “Capital reserve funds help reduce reliance on indebtedness to finance capital projects,” Pellati said. “Districts are able to provide a degree of financial stability by utilizing a capital reserve fund. They help mitigate the risk of having to make reductions in valued programs or raise taxes when any big-ticket capital improvement issues emerge. Planning and saving for anticipated major expenses is a demonstration of prudent fiscal management.”

Property taxes account for 75.41 percent of the Seaford School District’s budget funding. State aid accounts for 18.86 percent.

The district says it will receive 2.6 percent more state aid next school year — an increase from $12.5 million this year to $12.9 million.

Included in the district’s proposed budget for next year is an expansion of A.P. Capstone, the continuation of the personal digital learning initiative, ceiling replacement at Manor, an increase in security guards and other security enhancements, including new cameras.