Richard Stone in the Running for K-L School Board

A 22-year local resident and member of the Katonah-Lewisboro schools' finance committee is seeking a seat on the district's school board.

"We are paying more to educate our students—spending more of our available resources—than neighboring districts. The task before the board is expenditure control and revenue enhancement and that's going to take time and effort. I'm willing to commit time and effort to that process," said Richard Stone, who announced his candidacy at the last school board meeting.

As a finance committee member, Stone helped to create the first Finance Advisory Committee Expenditure (FACE) report, which provides a five-year history and five-year financial forecast for the district. He also participated in the committee's which indicated that Katonah Lewisboro spends 6.7 percent more than comparable districts on education.

"We are fortunate that we have a reputation of providing an excellent education," he said. "But we are on a path that is not sustainable."

Over the course of his 20-plus years in banking, spent mostly in corporate finance at Citibank and Fleet Bank, among other firms, Stone has negotiated thousands of contracts with an array of companies in various industries, he told Patch.

"It's my philosophy that if everyone agrees a deal has to be done—and we all have to give a little bit to make improvements—then it will be done. And I think [the district and the community] we're there."

Stone and his wife, Patricia, both volunteered in the schools as their son progressed from kindergarten to graduating from John Jay High School. She coordinated an enrichment program, he coached the speech and debate team. Their son, Mack, is now an attorney in New York City. Stone is semi-retired—he's on the corporate board of an advertising firm—and says he has the energy and time to commit to the school board.

Residents will vote on the district's budget, which is slated for adoption at the April 1 school board meeting, and on candidates to fill three vacancies on the board May 21.