Saranac Lake board adopts $37.3 million 2024–25 budget; officials outline reserves, tax cap effect

The Saranac Lake Central School District Board of Education voted April 22 to adopt a $37,300,000 administrative budget for the 2024–25 school year.

The business executive told the board the district’s tax-cap allowance would permit an increase up to about 3.57%, which she said equates to roughly $844,138, and that updated legislative state-aid runs increased the forecast by $1,469. After presentation and brief discussion of revenue assumptions, the board moved and approved Resolution 097-2023 adopting the budget.

Board members and administrators emphasized that the adopted figure reflects multiple moving parts: salary reallocations, insurance cost increases, federal ARP grant timing and continued BOCES and CTE program expenses. “The tax cap is, going we can we're allowed up to a 3.57% increase, which is, $844,138,” the district’s business executive said during the presentation. She also noted that other income rose because of expected higher BOCES reimbursements and recent interest earnings.

Administrators described steps taken to preserve fund balance while using one-time federal funds. An administrator said the district structured ARP grants so it expects to use about $2,000,000 of unappropriated fund balance this year but anticipates retaining approximately $1,000,000 going forward to maintain reserves.

The board also heard that insurance costs have climbed (the administration reported a 5.5% increase), and that some positions previously funded through COVID-era grants are being moved back into the general fund. Officials emphasized that certain tuition and out-of-district placement costs and CTE program participation are contributing to budget pressures.

The board approved the budget by voice vote and immediately authorized filing of the district’s property tax report card, a form required to be submitted to State Education within 24 hours of adopting the budget. The board also adopted a tentative administrative budget for the Board of Cooperative Educational Services (BOCES) for 2024–25 and approved a resolution casting the district’s votes in the annual BOCES election.

The administration said it will continue outreach to explain the budget and the specific tax impact to voters ahead of the public vote; board members agreed to advertise polling hours and place signage to notify early voters. The board noted the formal budget vote is scheduled for May 21.