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ABC Cmttee Learns District Expects to Bond for Certiorari Paybacks in 2 Years. Posted on Thursday, February 03 @ 00:16:39 EST by jfbailey

Schools

WPCNR SCHOOL DAYS. By John F. Bailey. February 3, 2005: In the first meeting of the Annual Budget Committee, twenty-six members of the citizens committee that serves as the community "sounding board" for the City School District planning its budget, learned that looming certiorari,(tax givebacks to businesses who have challenged and won lowered assessments in the courts), are forcing the city school district to consider bonding for expected crippling givebacks within two years.

The Money Men, Assistant Superintendent for Business, Terrance Schruers, left and Superintendent of Schools, Timothy Connors, presented the budget pressures to the White Plains Annual Budget Committee last night. Photo by WPCNR News.

The information on the certiorari drain was relayed to the Board of Education by their attorney, Mark Scharff, (who sits in on negotiations on challenged assessments, with the City Assessor and other city officials), during an Executive Session with the Board, Monday evening. An exact figure of possible future certiorari was not given by either Assistant Superintendent Terrance Schreurs, Donna McLaughlin, President of the Board of Education, or Mr. Connors. They were awaiting the City Assessor's public report to the Board of Education later this month. No figures were provided as to the total certioraris paid back this year, though at least $632,000 was paid back to Nordstrom's.

Assistant Superintendent for Business  Schruers, said the district had exhausted $5 Million budgeted for certiorari: (in bonding, $3 million and its remaining cash reserve for certriorari, $2.2 million),  in givebacks this year.

He said the district expected to have to allocate $5 million more next year, with the potential for floating bond issues for future paybacks on successful certiorari challenges in 2006-07. The real picture is expected to be made clear when City Assessor, Eyde McCarthy addresses the Board of Education February 28 on the matter of PILOTS and future assessments.

Timothy Connors, Superintendent of Schools, told the ABC Committee that unless the city and the school district found a way to stop the downward spiral of commercial assessments, the School District might be forced to pay for certioraris out of  operating expenses, impacting the education budget. But, he said he chose to remain optimistic that Ms. McCarthy would have good news on the meeting of the 28th on PILOTS.

More detailed information on the budget picture (pegged last night at $158 Million, up 9.72% from 2004-05), emerged during the course of Wednesday evening's meeting, but what had most citizens talking was the spectre of dwindling commercial assessments, their potentially catastrophic impact on the school budget and the reasons behind the drain. WPCNR will be providing more details on the budget as they came out last night.  


 
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