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Video-1: youtube.com/watch?v=zhIvCsQA-_0

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public hearing on the school budget is called to order. Please be advised that the public hearing date together with a copy of the 2026 2027 budget was advertised in the online star ledger and the online observer on April 22nd, 2026.

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Copy of the budget has been posted on the district website. Notice of the meeting was also printed in the online star ledger and the online observer and filed with the office of the town clerk by letter dated April 15, 2026. Roll call. >> Dr. Boy,

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>> Mrs. Berg >> here. >> Mr. Kerry here. Miss Lindenfeler >> here. >> Mr. McKenna >> here. >> Mrs. Pedigrew >> here. >> Mr. Suarez >> here. >> Mr. Mcuso >> here. >> President P >> here. Pledge of Allegiance.

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>> I pledge algiance to the flag of the United States of America and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all. Um, now we're going to have the

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presentation from >> Sure. >> Just ask everybody to slide over so you guys can sit there. >> All the all those people that are here. Excuse me. >> Excuse me.

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>> Excuse me. >> Excuse me. >> I just can't see. >> We're right here to support you. >> Anybody says anything, we got too lazy to get up. All right, guys.

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>> So, tonight the board's going to be approving the 2627 um school budget. Um first we'll talk a little bit about the development of the budget. We have to look as a district. We looked at all of our revenues. We looked at our tax levy,

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our state aid, and then we looked at other sources of revenue like tuition, rent, and interest in our bank accounts. When we look at the uh appropriations and expenditures of the district, we looked at the two major um expenditures

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for the district, which are contracts and benefits. And then we also look at any additional staff that um we're looking for the 20 for the next school year. We looked at all of the educational programs and we looked at the facilities of the district to see if there's anything that has to be

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addressed within the following school year and the preliminary budget that was submitted to the county after our March per minute March board meeting has been approved by the county. When we dive into the revenues for the

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2627 school year, we'll see that the tax levy is going to be 61,785,828, which is the 2% that the board of ed is a eligible to increase it. Our state aid is 91,22,135. that is a that equals to 6% which was

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the um the 6% was the maximum amount that the governor was given the districts. Um our miscellaneous revenues are 823,573 which includes that tuition that re u that rent that when we rent our

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facilities as well as any interest that we get in our bank in our bank accounts during the bud um for the budget fund balance the district using 164,199,000 with the dis the 2627 budget we are going to withdraw 45 million from our

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capital reserve served for the Lincoln Middle School edition um which was presented to the public already and then the prior year incumbrances you'll see that that we don't have anything yet allocated to that because we have to wait for this year to be over in order

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to find out what that amount is going to be. So you'll see that our operating budget is going to be 19875,735. Once we go to our special grant uh fund, you'll see local sources. That's really our student activity on our scholarships

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accounts, which we're allocating 500,000 for that. Um our state grants, which consists of our prek grant on our school-based program at the high school, that's going to be 14,35,355. for our federal grants is going to be

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4,332,746. That is our IDA, Title One, Title 2, uh Title 3, and Title Three immigrant. Uh the state always recommends the districts to budget 15% less of what they receive this current year. For the preK, um where the district's going to

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have to transfer to the prek program 1,5,972. That is just because the the state gives us the money for those prek students under the general uh state aid. So the state wants us to transfer that money so it's all under the same budget. Um our

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total grants is going to be 19984,73 for the debt service. You will see that our debt levy is going to be down to zero. So that is the first time in a long time that the district actually sees the debt levy go to zero. So that

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is a good thing. Um our you will see now that we have a transfer from capital reserve of $2 million. That is our contribution to the project for the loan that we're taking from the Hudson County Improvement Authority. So our total debt will be $2 million. So our grand total

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for the 2627 um school year will be 220,779,88. When we look at the other side of of our expenditures, you will see that our educational programs are going to be 75,75,000. Our administration is going to be

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12,295,000. Our means and facilities is going to be 15,739,897. For our transportation is going to be 4,52,776. for our employee benefits is going to be 29,63,74. Our capital outlay, you'll see that it's

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going up to 48,244,495, which is for that Lincoln Middle School project. Um, our adult school will remain the same for 160,000 and the charter schools increasing to 13,534,000. Again, our general fund by uh to budget

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is 198,795,000. Once you go to the local sources, it's 500,000. Again, that's the scholarship on the student activities. Um our state grant for the prek is going to be 15,51,327. And our federal grant is going to be 4,332,746

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bringing that special revenue to 19,984,73. For our debt will be a principal of about 1,700 and then the interest will be about $300,000. Uh again bringing that total budget to $220,779,88.

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When we take the revenue and put it all into a pie chart, you'll see that the tax levy is going to be 28% of our revenues. The state aid, it's 41% of our revenues and the withdraw uh the withdrawal from the capital reserve is going to be 20% of our budget of of our

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revenues with just leaving about 7% for the state grants. In our appropriations, you'll see that the educational programs are 34% of our budget. um our employee benefits uh being 13% of our budget and then the

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capital outlay 23% of our budget. When we're comparing the whole budget into three categories, salaries, benefits, and any discretionary spending, you will see that there's not really a big change from this current year to the next school year. You'll just see that the benefits went up to

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19% and the discretionary spending went to 27%. So when you really look at our whole budget and you just do salaries and benefits, that's like 73% of our budget. Just a summary of the general fund, special revenue, and the debt service.

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Um, you know, brings the whole budget for the 2627 school year to again 220,779,88. throughout the years you uh we've always said that the district has been under adequacy with the state um as you could see in this chart every you know even in

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1718 school year it was um under we were under adequacy by over $20 million. You'll see that in 22 23 we were just short about being a full adequate budget and then you will see the line continue to go down. Um in the 2526 school year

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we were just about 20 million under adequacy. Now, for the 2627 school year, we're at 17 million under adequacy. For the tax impact with the 2627 school year, you'll see that our school year tax levy is 61,785,828.

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Uh for the calendar year for the town is going to be 61,289,735 with the 26 ratables of 1 bill173,769,910 with a tax rate of 5.217 for the average $100,000 home. It will be an increase of about $93 for the

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average home for the 2627 school year. >> Say that again. The increase >> the increase for the average home will be $93 for the hundred thou for every $100,000. >> Okay. And then if you guys have any questions

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with the for the budget, anything in particular? If not, then you know the board could come back. So we could put >> Juan the the major difference was the down payment for the project uh that

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we're borrowing from Hudson County. Was that Did Did I hear that? There's there's >> there's a payment. >> Yeah. The payment back for the for the remaining of the project. Yeah. Will be in the it's in the debt service is the

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$2 million. >> 2 million. You said >> $2 million. >> 45 million. >> We're allocating 45 in total, but $43 million is going from us towards the project. >> And how much we how much did we feel the project was going to be?

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>> It's about I believe $62 million. And um obviously we're going to go into a payment plan um but that hasn't that's not reflected right now. >> That is all going to be eventually reflected under the debt service. >> Once we finalize all those numbers it

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will be paying out of that. >> That's it. >> All right. >> Thank you. >> Thank you. >> Thank you. Thank God. >> Does this bring the value? Paris, I would like to move, you know, I would like to request approval for items

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1 through seven. >> So moved. >> Second. >> Discussion. Roll call. >> Mrs. Berg, >> yes. >> Mr. Kerry, >> yes. Miss Lindtos, >> yes. >> Mr. McKenna, >> yes. >> Mrs. Pedigrew,

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>> yes. >> Mr. Suarez. >> Yes. >> Mr. Duso. >> Yes. >> Yes. Okay. Any new business? >> There's a question. >> Yes, ma'am. Sir, >> the notice came around in regards to uh

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the church building the additions. Uh Cecilia and I are on the zoning board. We can't attend those meetings, but I didn't see anything there that would really affect us what they want to do. I don't know if there's going to be any problem from us. No, not not that we can see from what

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we've received so far. >> Okay. Anything else?