Reserve Funds and You, Pt II

Part II – Property Tax Report Cards

NYS’s Property Tax Report Card system now also includes a schedule of reserves. Here’s the data on North Shore and Manhasset (cited at Meet the Candidates Night). Please note the last column which indicates what will be spent in the coming year.

Here are my questions:

·         Why would you have almost $4,000,000 in a Capital Reserve fund with no plans to save it? This reserve is not a rainy day or emergency repair reserve. The projects to be funded have to be approved by the voters when they vote to establish the reserve.

·         We have funds in the Unemployment and Workers’ Comp reserves because we are self-insured – which saves us money. Are they not self-insured or not holding funds for claims?

·         We’ve had tremendous spikes over the years in pension fund costs, why not fund the ERS reserve?

·         All audit reports note that school districts have tremendous long-term liabilities. Why not use the Employee Benefits Accrued Liability fund?

·         Repair Reserve – The emergency repairs would have to be less than $150,000. Low?

·         Does the overall lack of reserves explain why they aren’t plan to use them? (Versus NS’s plans.)

Source: http://www.p12.nysed.gov/mgtserv/propertytax/#Data