The South Orange-Maplewood School District is projecting a $137,374,530 budget for the 2018-19 school year with zero cuts to personnel.
However, in order to help close the gap between revenue (approx. $132 million) and expenses, the district is looking at using $147, 754 in banked cap for an estimated tax levy increase of 2.34%.
Director of Business Administration Paul Roth reported that the district would use a combination of a spending freeze for the remainder of 2017-18 (other than urgent needs), breakage (unused services) and the $147K in expiring banked cap to offset a projected 2018-19 deficit of $4.8 million.
The draft budget will next go through two budget workshops (March 7 and 10). The district anticipates receiving notice of aid from the State of New Jersey on or about March 15 (the district is projecting the same level of state aid as for last year in the draft budget — approx. $4.5 million). The Board of Education is scheduled to review and approve a preliminary budget at its March 19 meeting; the last day to submit to the County is March 20.
The final approval is tentatively scheduled for April 30 at a special meeting and public hearing on the budget and action to levy the 2018-19 school tax.
See Roth’s full presentation from the February 20, 2018 Board of Education meeting here: