UTICA — The updated five-year financial forecast presented Monday at the North Fork Board of Education meeting is bleak. If the renewal earned income tax levy fails, the district’s expenditures will exceed revenues by $1.6 million at the end of fiscal year 2015. That figure is estimated to reach $3.6 million by the end of fiscal year 2018.
District treasurer Tonya Mickley said if the levy is renewed, the district will have a positive fund balance. The forecast, which the board subsequently approved, assumes that real estate tax collections will remain constant through fiscal year 2018 and state foundation funding and all other revenues will also remain level.
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