Pawling residents received welcome news at the Pawling Central School District (PCSD) Board of Education meeting on August 27. School District officials announced that the Pawling tax rate will decrease by 0.34%, representing the third straight year of reductions. Tax rates in three of the other four towns included in the Pawling School District (Beekman, East Fishkill, and Patterson) also experienced a tax-rate decrease. Dover experienced an increase due to a change in assessment values.
A presentation from Assistant Superintendent for Finance Neysa Sensenig summarized the District’s audited reserves and fund balances, as of June 30, 2018. The PCSD’s Worker’s Compensation Reserve was reduced to zero, as the fund is now solvent. The Board approved a motion to appropriate $597,000 of the 2018 – 2019 Employee Retirement System (ERS) Reserve Funds to the Appropriated Fund Balance. The District’s total restricted fund balance is currently $7,304,294.
The Board authorized the funding of several reserves and appropriated fund balances following the audit for the fiscal year, including the Reserve for ERS Planned Funding ($3,496,231.17), Reserve for Tax Certioraris ($773,190.00), Reserve for Employee Benefit Liability ($1,484,873.47), Reserve for Capital Projects ($1,550,000), and Appropriated Fund Balance ($551,607.00).
Furthermore, Dr. Sensenig outlined reserves that can be used to manage the tax levy over multiple years. These measures will include using appropriated fund balance to reduce the 2018 – 2019 tax levy by the planned $1,148,607, a 2018 – 2019 tax certiorari reserve ($773,190) to cover any potential refunds for tax certiorari court cases, and the 2018 – 2019 to 2021 – 2022 ERS reserve to cover ERS expenses for the next five years.