Vote “Yes” For Fiscal Year 2012 School Budget

I believe taxpayers' choice on Tuesday is simple: Voting “Yes” costs  materially less than voting “No."

Voting “Yes” results in about a 0.8 percent tax rate increase, while voting “No” results in about a 2.0 percent tax rate increase if the District implements a contingency budget.

More importantly, a “Yes” vote maintains class size guidelines and, because of better budgeting practices, reduces the tax levy this year—the total amount the District requests from taxpayers—by about $600,000.

Approving 2012's budget, however, does not solve certain multi-year challenges. Unless stakeholders agree to contract changes, the District will continue to request taxpayers pay materially more each year—in part because of current salary schedules and substantial increases in pension and healthcare costs of active and retired employees.

Nonetheless, in my view, the 2012 budget deserves taxpayers’ support. Please join me in voting “Yes” for this budget.

Clarence Schwab manages an investment advisory and independent sponsor firm focused on investments in middle market companies. He is a parent of two children in the Mamaroneck School District, a founding member of the Citizens Budget Advisory Committee and a member of its 5-Year Projection sub-committee.