![]() Does Amity pad the budget to assure a surplus? Why is it that every year there is a surplus?Ī: No. Last year, the two failed referenda cost $2.50, more than any potential savings from reducing the surplus by 1%. So, even if the surplus was reduced from 3% to 2%, the savings to the taxpayers would only be about $1.50 a year.įor comparison, each failed referendum costs about $1.25 to the taxpayer. The surplus is returned to the taxpayer the following year thus, the cost of the surplus is only the foregone interest.Īssuming a generous 3% interest rate, a 1% surplus costs the Amity taxpayer an average of $1.50 per year. How much does the surplus cost the taxpayer on average? ![]() ![]() Also, medical expenses were lower than budgeted as employees postponed treatment. This was especially true during the COVID years, when the school was not fully operational, so many operational expenses were lower than budgeted. There have been some years where the surpluses were unexpectedly higher. This year's surplus (2022-23) is expected to be within the 2-4% range. In general, unspent funds ranging between 2-4% of the yearly budget are normal for regional school districts. Have the Amity budget surpluses been unduly high over the past few years? For comparison, the average increase in school budgets across CT this year is 5.17%. Adjusting for the returned surplus, the effective increase is 0.9%. ![]() The budget increase is 2.25% over last year. What is the proposed budget increase over the current year? What is the increase after the returned surplus? ![]()
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