| What is Excel Aid? |
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For the first time, NYS is making available to each school district a unique opportunity. Following a lawsuit over funding to New York City schools, a court ruled the State must provide (EXCEL) funding to all school districts for capital improvements in the specified areas of health and safety, technology, accessibility, energy and physical capacity expansion. EXCEL (Expanding our Children’s Education
and Learning) is a one-time allocation of construction related funds to NYS School Districts. |
| How Much Money Will Yorktown Receive? |
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Yorktown has been allocated $1,340,000 in EXCEL aid. |
| How Will the District Spend the Money? |
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The District has decided to take the $1.34 million
and put it towards new capital projects. NYS is allowing districts to combine EXCEL aid with their Standard Building aid, which is money included in the state budget every year to help school districts to finance capital projects. Yorktown’s building aid ratio is 50.9% or 51 cents on every dollar. What does this mean? Yorktown can accomplish $2.68 million dollars worth of new work ($1.34m from EXCEL + 1.34m from State Building aid) at NO COST to the taxpayers. |
| Can We Use the Money to Pay Down the $37,000,000 Bond? |
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It was an option that the District explored, but by applying the EXCEL funds to pay down the current bond, NYS will only provide $1,340,000 to the District. This equates to a savings of $8.50 per household, per year, for fifteen years. The money will not be eligible for additional state aid. Using the money this way means no additional work will be done to our schools. |
| Why Not Transfer This Aid to the General Budget & Use it to Lower the Tax Rate? |
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These funds are specifically designated
for construction projects and therefore cannot be transferred to the general fund for
other purposes. |
| How Did the District Determine These Projects? |
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The District’s Steering Committee identified projects that need to be addressed
in the near future. Typically, these projects would be provided for in the annual expenditure budget or would be incorporated in a future bond, and would only receive standard building aid. This one-time aid package (EXCEL) from New York State enables the District to address these projects now, without burdening the
taxpayers later. |
| What are the Costs to the Taxpayer? |
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None. While money will be borrowed in a bond, Standard Building aid and EXCEL aid will cover the repayment cost. There will be NO cost to the taxpayer. |
| If These Projects are Fully Funded, Why is Voter Approval Needed? |
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According to the NYS Education Law, to be eligible to receive any portion of the EXCEL funds or to borrow money for capital projects, a district must have voter approval. The Board of Education of Yorktown Central School District has authorized to put the EXCEL Aid projects to a vote on OCTOBER 23, 2007. |
| What is the Timeline for Completing the Projects? |
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If approved, the projects will go through the standard construction process and the State Education
Department (SED) will need to approve the project designs. A firm timeline cannot be determined until the project has voter approval. It is anticipated that the projects will start during the 2008-09 school year. If possible, the air conditioning
in the High School auditorium would be installed when the auditorium renovation project is done this summer. |
| Where Can I Find Out More Information? |
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Call Tom Cole, Assistant Superintendent
of Business at 914 243-8021, or continue to explore the information in this section of the website. |
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