Lockport Union-Sun & Journal Online

Local News

April 11, 2013

District keeps tax increase at 2 percent

(Continued)

Lockport Union-Sun & Journal — Trustee Edward Sandell voiced concerns about the amount of reserves being used, which would hurt the district in the future. He voted in favor of the budget, but did not agree with the audit committee’s recommended 2 percent tax levy increase.

“I’m concerned we are taking away from future boards,” Sandell said.

Lockport will see some big increases in the benefits line of the budget, which will increase about $3.1 million in 2013-14 to a total of $21.7 million. That is largely due to increase in the state teacher and employee retirement systems.

Expenses in the Teacher Retirement System will jump about $1 million or 26.5 percent for the district, to a total cost of about $5.1 million next year. The Employee Retirement System will go up about $151,000 or 14.18 percent to $1.2 million.

A public hearing on the budget will be held May 8.

LOCKPORT CITY SCHOOLS 2013-14 BUDGET BY THE NUMBERS TOTAL: $83.063 million, up about $3.1 million or 3.96 percent in spending TAX LEVY: Roughly $36 million, an increase of $692,000 or 2 percent, well below the tax cap of 5.04 percent STATE AID: $39.67 million, about $966,000 or 2.5 percent more than the current school year TAX EFFECT: If nothing changes, estimated impact would see a 50 cent per $1,000 increase in tax rate BUDGET HEARING: May 8

Contact reporter Joe Olenick at 439-9222, ext. 6241 or follow him on Twitter @joeolenick.

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