Board Adopts Tax Levy Resolution


The Roslyn School Board voted to adopt a resolution at Tuesday night’s school board meeting pertaining to the school district tax levy for the 2014-15 school year.

The resolution was in regard to the necessary claims and expenditures within the school budget for “school purposes” and “library purposes.”

The total amount for school purposes is $102,731,007 and $4,928,170 for library purposes adding to an amount of $107,659,177.

The board also determined that $2,000,000 be applied from the school district fund balance for the 2014-15 school year and estimated the revenue from all other sources including state aid to be $9,099,852. The Bryant Library Board of Trustees estimated the revenue from all other sources for 2014-15 as $144,100.

In other news, there was a discussion at the meeting regarding issuing bonds versus BAN’s (Bond Anticipatory Notes) for the financing of district capital projects and all the costs that are incurred with them.

The board discussed the possibility of using bonds, which are currently at historically low rates of 2 ½ percent and BANs with current rates of ¼ percent.

The disadvantage, according to the board, of using bonds to pay for the fees, is that if bond levels dip even further somewhere down the line, that the district will end up paying more money over the long term.

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A longtime reporter of local news, Gary Simeone is the editor of Massapequa Observer and Hicksville News.