By Linda Delmonico-Prussen
For a home assessed at $7,500, that would mean a school tax increase of $144 next school year. The change represented a 2.13-percent budget to budget increase.
Ultimately, the board OK'd the increase and adopted the 2002-2003 budget.
Many programs were looked at to help bring budget costs down, but the major tax saver next year involved a decision to refinance the state-aided portion of two of the district's existing bonds. The state part of the 1994 bond to be refinanced is almost $870,000. The state portion of the 1998 bond is roughly $1 million.
"If we have a way to lower our burden somewhat to our population, we should do so," said board member Martin Valk, an attorney.
Trustee Michael Weinick said, "On the surface of it, I can't dispute
what Marty just said." But he countered with concerns over prolonging the time it takes to pay off the district's debt, which generally increases interest payments. "This is a debt we have...We should bite the bullet and pay it now."
Board member John Davis agreed with Weinick, saying it would be prudent to pay off the bond on its current schedule. "Try to resolve it now. Get it behind us," he said.
Board member Diane Seaman said she originally wanted to pay off the debt on its current schedule. However, when considering the Central High School District budget with added busing, a proposal for a new $10-million Merrick Public Library, and other taxes and needs, she
thought refinancing the state portion of the bonds would help ease the tax burden for residents.
Board Member Andrea Messinger said, "I have to say I agree with Marty and Diane at this point. It's not costing us more dramatically."
According to district officials, the difference in the interest rates will actually be "a wash" and will not cost the district more in interest rates.
Messinger added, "It's our obligation to keep our tax increase to a
minimum."
Board member Louis Kruh agreed with refinancing. "We have a
chance to be prudent without affecting any education we have on our
youngsters."
Trustee Susan Schwartz also voted to refinance. In the end, only
Weinick and Davis voted against it, and the motion carried.
The original bonds would have been due in 2005 and 2007, but with the refinancing, they will now be due by 2009 and 2010. The actual due dates will be determined only after the refinancing takes place.
Other programs looked at were the musical instrument program and the Summer Recreation program. Instruments for fourth-graders trying an instrument are available for rental at $40 each for the year. Board members discussed potentially raising the price to $50 to make the program more self-sustaining. The ideawas quickly and unanimously voted down.
Seaman voiced concern that the price increase might prevent a child from taking up an instrument. For the upper grades, parents must shoulder the full cost of renting an instrument when a child decides to continue with it.
The board also agreed to raise the price for the district's Summer
Recreation Program from $165 to $200, making the program self-sufficient and further reducing taxes. The motion passed, with only Davis voting against the increase.
The public budget vote will take place Tuesday, May 21.
