12:53The budget presentation, led by school business administrator and board secretary Brian McCarthy, was a central theme of the meeting. McCarthy detailed the budget as a financial blueprint for the upcoming fiscal year, highlighting its role as a dynamic document subject to adjustments in response to evolving district needs. A key issue discussed was the statutory cap on tax levy increases, restricting them to a maximum of 2% annually. This cap presents a challenge as expenses, notably salaries and healthcare costs, are increasing at rates of 3% to 4%. McCarthy emphasized the district’s strategic approach to budgeting, which uses a zero-based method to justify each expense based on current needs, rather than relying on percentage increases from previous budgets.

19:16The budget, totaling approximately $61 million, relies heavily on the tax levy from Caldwell and West Caldwell, with additional revenue from state aid and transportation fees. McCarthy cautioned against over-reliance on surplus funds from the previous year’s budget due to the unpredictability of future revenues. The budget prioritizes maintaining instructional programs, with no additional staffing but reductions in administrative positions and supply budgets.

24:19A significant portion of the budget, around 80%, is allocated to salaries and employee benefits, which is typical for school districts. However, the meeting highlighted a decrease in special education costs at the high school and middle school levels, attributed to a decline in classification rates. This reduction, along with decreased out-of-district tuition and extraordinary services, represents cost savings for the district. Despite these savings, increased spending on child study teams was noted due to more in-house occupational and physical therapy services.

Another discussion point was the increase in transportation costs, which was linked to previous mismanagement and subsequent leadership changes within the transportation department. The new leadership has implemented a more accurate budgeting process, including expenses for contracted services and vehicle repairs.

21:29Infrastructure improvements also featured prominently in the budget presentation. Planned projects include repaving the Harrison parking lot and performing masonry and waterproofing repairs at Grover Cleveland. Additionally, the high school has recently installed new hot water heaters and boilers, with gymnasium lighting improvements. The board discussed plans for a new referendum and the successful sale of 20-year bonds at a net interest cost of 3.97%.

35:11The meeting also delved into future projects, such as a scaled-down fieldhouse, with plans to be presented by an architect at the next meeting. During public comments, a participant inquired about the $8 million budget for the fieldhouse, reduced from a previous $15 million proposal. The response clarified that no capital reserves would be used for this plan.

31:57The tax levy outlined in the budget includes a total of $54,944,884 for the towns, contributing to a minimal overall school tax increase of approximately 0.25%. This results in a slight decrease in taxes for property owners, with a homeowner of a $500,000 assessed value seeing a reduction of about $150 in their school tax bill. This outcome was noted as a positive aspect of the budget plan.