Of New York's 669 school districts, 28 are seeking approval from voters to override state property tax limits to help fund schools. Districts statewide are planning to use $262 million more in reserves this year than last -- an 18% increase -- to balance their education budgets. "Once school districts exhaust these fund balances, there will be nothing standing between them and fiscal or educational insolvency," said Michael Borges, executive director of the state Association of School Business Officials.

Related Summaries