Fort Edward district presents 7.53% operating budget increase, plans $500,000 fund-balance draw

Superintendent Rich DeMally and district finance staff presented a proposed operating budget that the district characterized as a 7.53% increase over last year and said they will appropriate $500,000 from an estimated $2.6–2.69 million restricted fund balance to balance the 2024–25 budget.

DeMally told the audience the increase reflects multi‑year deferred maintenance and new instructional and special‑education programming. “We can upgrade our building. We can increase programs, so we can service the children what they need,” he said, adding the district is trying to remain at or under the allowable tax cap.

The presenter summarized the three‑part budget structure: administrative (about 10% of the total), capital (about 16%), and program (about 74%). He said administrative costs fell roughly $200,000 after moving some business‑office functions back to the district, but capital and program lines rose because of building repairs and an expanded special‑education classroom.

Officials described revenue assumptions as conservative because state aid figures were not final. The presenter said an $85,000 projected gap in the draft would become zero if the governor’s “hold harmless” adjustment to foundation aid were applied as expected. “These projections and the way we navigated fiscally was based on not having any guarantees,” the presenter said.

District staff said the tax‑levy increase is within the legal cap (presented as 2.36% in the materials) and that, on the example used in the meeting, a $200,000 house would see roughly an $88 annual change before STAR exemptions. Staff emphasized the district had already appropriated the local share for the capital project separately and that the general‑fund budget and capital reserve are funded from distinct sources.

Why it matters: The budget funds both recurring student supports and one‑time facility repairs that district leaders say are overdue. Voters will decide on May 21; the district asked residents to review the full budget packet online and noted that state aid changes could alter final figures.