Revenues: state aid, federal stimulus, etc

If you are viewing these pages from a mobile device, we suggest holding your phone horizontally (or landscape orientation), so all the content appears.

This chart provides a snapshot of the anticipated revenues for the 2021-22 school year, along with the district’s plan to use reserves.





Pie chart showing revenues

To fund the spending plan, this graphic shows the breakdown of different revenue sources. 

91% of our funding is dependent on NYS aid and what we ask for from our community in the form of a tax levy.  Local Sources makes up 7%, reserve funds about 1.6% and the balance from federal aid.

The New York State legislature approved a state budget on April 8 and made the decision to begin a phased-in approach to fully fund Foundation Aid. For Spencerport that equated to about $1.6 million. Also included in the state budget was an opportunity for districts to begin funding universal pre-K. Pre-K funding is accounted for outside the general fund budget, and details about how to apply for this funding are pending.

 

The maximum tax levy, or the amount needed to collect from the community, is derived from the property tax cap calculation. This equated to a possible increase of about $1 million or 2.56%.

 

Even with the increase in state aid and maximizing the allowable levy limit, the district is still allocating about $1.4 million or 1.6% of reserve funds.

 

 

Federal stimulus timeline

 

 

This is a timeline of approved Federal Stimulus funds.

 

The first stimulus package was the Coronavirus Aid, Relief and Economic Security (or CARES) Act approved in March, 2020. Spencerport received $611,000, which is included in the current year aid package and has no impact in future budgets.

 

The second stimulus package was the Coronavirus Response and Relief Appropriations (or CCRSA) Act approved in December, 2020. Spencerport’s allocation is about $3.4 million to be used over a three-year period. This funding is not part of the general fund operating budget and is accounted for in the Special Aid fund.

 

The third stimulus package is the American Rescue Plan (or ARP) Act approved in March, 2021. Spencerport’s allocation is about $4.9 million. Similar to the CCRSA Act funding, this is to be used over a three-year period and is not part of the general fund operating budget, and is accounted for in the Special Aid fund.

 

There are restrictions on how these funds are to be used and we are awaiting further guidance from the NYS Education Department.