Adopted 2019-2020 Budget Summary
Galway Central School District
May 22, 2019
The voters of the Galway Central School District, during the annual budget vote on May 21, 2019, approved the 2019-20 Budget in the amount of $22,299,130.
The Board of Education adopted the Proposed Budget for 2019-20, that increases appropriations by $798,648 (3.71%) over 2018-19.
$553,800 of the total increase is attributed to the need to budget for additional debt service principal and interest payments for the on-going capital project.
The remainder of the Budget is increasing by a total of $244,848, which, in essence, represents the normal growth expected to keep the District going on the path toward educational excellence for the students. If the additional debt service appropriation were set-aside, then for comparison purposes the baseline 2019-20 budget is increasing by 1.2% over 2018-19.
The New York State Budget for 2019-20 is providing only a 1.0% increase in Foundation Aid for Galway Central School District. That percentage contrasts to the most recent data for the cost of living, which has been in the range of 1.5% to 2.0%.
In order to balance the budget, a tax levy change of 1.99% was proposed, which is considerably less than the 4.99% allowed by the Tax Levy Limitation formula.
Audited Financial Statements • June 30, 2019
Adopted Budget 2019-20
Budget Newsletter 2019-20
Budget Book 2019-20
Tentative Budget 2019-20
Preliminary Budget 2019-20
Financial Condition Presentation Dec. 6, 2018