District Leaders Unveil First Draft of Proposed 2024-25 Budget; Development Process Underway

The South Colonie Central School District is forging ahead with its fiscal planning as district leaders presented the initial draft of the proposed 2024-25 budget to the Board of Education on Tuesday, March 12.

During the planning process, South Colonie maintains its commitment to preserving current programs addressing equitable academic needs and improving student access to services. Furthermore, the district places emphasis on ensuring the long-term sustainability of both programs and facilities for future generations.

Key Highlights

    • Budget Overview: The first draft of the budget totals $128,075,118, representing a budget-to-budget change of +$5,880,416, or 4.81%, compared to the current school year.
    • Revenue and Expenses: Despite anticipating an overall revenue increase of 4.81%, the district faces rising expenses, including health insurance, salaries, and overall inflation, resulting in a projected budget gap of -$445,501.
    • Tax Levy: The district’s estimated tax levy is set for 2.99%, below the tax levy limit of 3.1651%.
    • Proposition: Residents will have the opportunity to vote on a bus purchase proposition. 
    • State and Federal Aid: Governor Hochul’s executive budget projects funding cuts for South Colonie, an on time final state budget and state aid runs are due by April 1.

Next Steps

In response to the projected budget gap, the Board of Education will collaborate with district leaders and administrators to explore adjustments including expenditure reduction, reserves utilization, or a combination of these measures to close the gap before the second draft of the budget which will be presented on Tuesday, April 9.

Community Engagement

Community members are encouraged to participate in the budget development process by attending the second draft budget presentation on Tuesday, April 9, at 6:30 p.m. The event will be held at Shaker Road Elementary and livestreamed on the district’s YouTube channel.

Budget Vote Details

Residents will have the opportunity to vote on the proposed budget, propositions, and Board of Education seats on Tuesday, May 21, from 11 a.m. to 8 p.m. at their designated polling location (Sand Creek or Lisha Kill Middle Schools).

For more information and updates on the budget development process, please visit the budget section of the website.

First Draft 2024-25 Budget 

Link to first draft budget presentation here.