2023-24 School Budget Information
AT A GLANCE: $46,146,296
Tax Levy at Tax Cap: 1.98%
The following propositions will be presented to voters at the May 16, 2023 Election and Budget Vote:
Shall the Board of Education be authorized to expend the sum set forth in the proposed statement of estimated expenditures in the amount of $46,146,296 and to levy the necessary tax thereof?
Proposition: CAPITAL RESERVE PROJECT
Shall the bond resolution adopted by the Board of Education of the City School District of the City of Norwich, New York, dated March 15, 2023, authorizing certain capital improvements consisting of construction and reconstruction of the Middle/High School building complex and facilities, site, multipurpose and other athletic field improvements and the acquisition of certain original furnishings, equipment, and apparatus and other incidental improvements required in connection therewith for such construction and school use, all at an estimated maximum aggregate cost of $9,100,000; and to appropriate and expend from existing capital reserve funds $8,000,000 for such costs, and that the balance of such cost, or so much thereof as may be necessary, shall be raised by the levy of a tax to be collected in annual installments, with such tax to be offset by state aid available therefor; and, in anticipation of such tax, debt obligations of the school district as may be necessary not to exceed $1,100,000, shall be issued, and, if the proposition for the approval of such bond resolution shall have been approved by at least a sixty percent vote, such obligations may be issued in excess of the constitutional debt limit of the School District pursuant to applicable law, all be approved?