District Contact Information

Daniel T. Connor
Superintendent

227 Main Street
Goshen, NY 10924
(845) 615-6720

Central School District

District News

Capital improvement project preliminary plans approved by NYSED

December 28, 2016 - The preliminary plans for the proposed capital improvement project were submitted to and approved by the New York State Department of Education (NYSED).

NYSED calculated the project’s building aid units and the information was forwarded to the district’s fiscal advisors who determined that the state aid estimate will allow the Board of Education to meet its goal: to put forth a capital improvement project to the community without impacting the tax levy.

The proposed $30,483,850 project will be funded by:

  • $9,054,000 from the district’s capital reserve fund

  • $1,343,184 allocated by New York State through the Smart School Bond Act – the district anticipates approval of this funding in June 2017

  • $20,086,666 from the local tax levy*

* The local tax levy will be offset by state aid. New debt service obligations will be issued. The proposed project is timed so that debt service from past capital projects will soon be retired. Now that state aid has been calculated, the estimated local share to be paid by taxes for the new capital improvement project will be approximately $171,058 less during most years than the local share that is currently being paid on the retiring debt – thus resulting in no impact to the tax levy for debt service.

State aid will not cover the entire local share in fiscal years ending June 30, 2017-2019, and the district may use money from its debt service reserve as well as building aid and appropriated fund balance to ensure that the project does not affect the tax levy during those years.

The project will be paid with bond anticipation notes (BANs) for the first three years beginning in 2018, and will then be bonded for 15 years from 2021 through 2036.