Financials



The Board of Education approved a $60,180,000 capital improvement project on Jan. 4, 2018. The project will be financed by $56,180,000 of serial bonds, $4,000,000 from the district Capital Reserve Fund and retiring debt and a small tax levy impact. This vote is separate from the school budget vote.
Capital Project Financial Pie Chart


The majority of the funding for the capital improvement project will come from New York State, which encourages districts to reinvest in their buildings and grounds.
Funding is comprised of State Building Aid, Retiring Debt Service, Capital Reserve and an estimated tax levy impact of 2.14%.  The estimated average tax impact is $0.38 per $1,000 of assessed value. For a family living in a $100,000 home, it would mean an additional $37.87 per year or $3 per month to ensure the good condition of our schools for decades to come.
 
The school-by-school breakdown:

 
Building Financial Breakdown
Oswego High School $23,250,000
Oswego Middle School $12,609,000
Leighton Elementary School $12,260,000
Minetto Elementary School $3,050,000
Riley Elementary School $1,073,000
Kingsford Park Elementary School $3,969,000
Fitzhugh Elementary School $3,969,000
Bonding Scope