Good evening everyone. I would like to welcome you to our March 24th, 2026 board of education meeting. We are calling the meeting to order at 7:06 p.m. And if everyone could please rise for the pledge of allegiance. A reading of meeting notice. The New
Jersey open public meetings law was enacted to ensure the right of the public to have have advanced notice of and to attend the meetings of public bodies at which any business affecting their interest is discussed or acted upon. In accordance with the pro provision of the act, the Verona Board
of Education has caused notice of this meeting to be published in the Star Ledger posted with the Township of Verona and the Verona Education Association. Posting of this meeting setting forth the time, location, and agenda were posted at the Verona Board
of Education office and on the Verona Public Schools District website. Copies of tonight's agenda and resolutions have been made available to the public via the Board of Education website. Dr. Mr. Riley, if you could please call attendance.
>> Mr. W present. Mr. K. >> Miss Kenote. Mr. Scott >> here. >> Mr. B here. >> We have a >> Thank you. Moving on to I need a motion, please, to approve our uh minutes from
the March 10th, 2026 board of education meeting. >> So moved. >> Motion by Mr. Waka, seconded by >> Second M. Kenotic. Any discussions? Uh, Dr. Wley, if you could please call roll. >> Mr. W. >> Yes. >> Mr. B. >> Yes. >> Miss Kenote.
>> Yes. >> Mrs. Drisco. >> Yes. >> Mr. >> Yes. >> Thank you. Moving on to our superintendence report by Miss Diane D. Jeppi. >> Good evening. Um, my report's going to be a little short tonight since we have the budget presentation and the um uh
winter athletics recap. Uh, just a reminder that Thursday is a half day for students. Um our teachers will be uh doing professional development, continuing to do the work that we've been started earlier in the year and our elementary um uh teachers
are getting trained for new um NJSLA the new one. Um the Verona Foundation for Educational Excellence or Beefy Inspiring Excellence Awards will be held on April 17th um at 7:30 in the Verona Community
Center. Go to their website, get your tickets. This year the honores are Lisa Hegel, Brookdale kindergarten teacher, Betty Ho, BHS Mandarin teacher and retiree. Uh Dana Lustik, Forest and Lanning um
school social worker. Uh Luigi Nice, the Lanning head custodian, Diane Bartell, Forest second grade uh teacher. Uh Jenny Chin, HBW Mandarin teacher, and Alex Maurice uh who was the FN Brown A and FN
Brown special educator. This award is being awardedly. Uh, as you recall, uh, we lost Alex earlier in the year. Anyway, uh, after a a hard-fought battle with cancer, I just also wanted to thank Bey
uh, for their latest round of grants. Um, we received $7,483 for six administrators and two of our teacher instructional leaders to attend the building. expertise for deeper learning conference and um that's going to be a great opportunity for them for
the six administrators which is Dr. Miller um Dr. Lanzo, Mr. Galchek, Mr. Lancaster, Mrs. Kohler and Mrs. Peter. This will be their first national conference. So it will be a good opportunity for them and our teacher
instructional leaders as well. And that is um sorry I'm got clamp and I I lost my train of thought. Um Kayleie's uh Cali Cella and um it'll
come to me in a minute. The other teacher that's going I apologize. Um going on I'll come back to that. Going on we had uh $700 to Corey Majestic to attend um the Aadian math mentor professional development workshop. $750
to Eric Lynch to host Jazz Day uh for the music students at VHS. And that Jazz Day is on April 15th at 7 p.m. $9,750 for 40 additional Chromebooks for the elementary teachers to use for data collection associated currently with
literacy, but I'm sure they'll find uses for those Chromebooks uh for additional uh data collection. $5,767 to Alis Alyssa Freda to support the purchase of manipulatives for the illuminating innovation lighting the way to steam project. And um these will
augment immersive learning tools previously awarded by by a different uh BP grant. $826 to Ni Nadia Analone uh for the purchase of materials ne necessary to create TEDex talks with her students. And that TEDex, if you're
interested in in watching the kids do their talks, is on uh April 23rd at 6 PM at VHS. And then um another large one was $7,399 to Dr. Tamuro for his 86 inch
Prometheian ACT panel uh board in his classroom. So thank you, Vee. >> So Diane, if someone wants to someone's listening at home and wants to purchase a ticket for that event, where do they go? >> They go to the VP website. um which is >> or
>> thank you >> v.org. So if you click there, it'll automatically um there'll be a popup and it'll take you right to the site to purchase tickets. And the other teacher who is going is Bethany McMinn um uh HBW literacy
teacher. uh that's going to the virtual conference. That's my report for this evening. I'll turn it over to Dr. Riley uh for the budget presentation, tenative budget presentation. Okay,
looks like we're all set. Thanks, John. All right, good evening. Tonight, we're going to review the tenative budget for fiscal 27. Um, as a reminder, our budget process includes a sequential procedure begins
with detailed meetings with all of our budget managers. Um, we review the status of the current year budget, our current fiscal positions. Um, and then projections for future
years. Um, throughout the process, once uh Dr. D. Jeppi and I meet with all the administrators to review um the wants and needs and build their budgets. Um the facilities and finance committees are consulted regularly for their
feedback and support um which their uh their feedback and support brings us to where we are um in this presentation. And then upon review and approval by the full board this evening of the tenative budget, the budget's then submitted to
the executive county superintendent for uh review and approval after which um we then hold the statutory public hearing to approve the final budget. So in terms of our objectives for this
evening, um I want to be sure that the board and the public um is aware of the sources of revenue and our estimated projections of same the uh projected expenditures and we'll highlight the
increases in budgeted appropriations. uh we'll talk in depth about the budget variables and the goals of the budget and then highlighting our next steps forward. So in terms of those budget goals, I think it's always important to come back
to um the definition and plan of a budget, right? That it guides our allocation of resources um to support student achievement and operational needs. The goals of our budget for fiscal 27 um
I'll be very honest are not as lofty as normally our our goals we would we would choose for them to be. Um and as you know many of you know and many of you have heard that districts in the news throughout this budget cycle um this has
not been an easy build for anyone. um in light of inflationary and unsustainable cost increases um these previous three years and I'm sure those of you who have served on this board for many years will will agree that the the previous three
years have been difficult um we in Verona are not immune to a difficult budget build this time around and as you've heard districts moving towards the fiscal cliff which is brought on by expiring ing COVID relief funding and exacerbated by the
exorbitant increase in health care benefits costs um and what I'll call the inevitable failure of chapter 44. Uh this budget is forcing some very difficult decisions not only for and you've heard about many in the news already but for almost all certainly of
our neighboring districts and across the state. So here as highlighted goals we want to make sure that we come back to ensuring the fiscal responsibility and transparency that a budget should guarantee. Um, maintaining our academic
programming and student supports, and I'm going to come back to that point several times throughout the presentation. We're working very hard to preserve our co and extracurricular programs and continue to move forward to maintain our facilities and maximize our
budget efficiencies. in terms of the components of the budget right at a very high level it's just broken into two parts our revenue and our appropriations and of the revenue um that is made up of the advalorum tax
levy the state and federal aids and our local sources and that's for us um tuition facilities use and and local grants as well as our on the appropriation side now Um the largest of
which are for any district are salaries and benefits, materials and supplies, maintenance costs, utilities and transportation. Those are our really our largest cost structure. So, in terms of the overview of the
budget, a general fund, we're looking at a general fund operating uh fund uh balance of $47,415,216 special revenue fund of $67,000,191. Um those that's comprised of our local, state, and federal grants. And then for
fund 40, our debt service fund, four, you know, just under five million, 4.896 million. And that's our repayment of debt. Now, it's important to note again that that's funded through separate debt service and additional state aid. And then we'll get into that in a little
bit. Specifically, in terms of the the makeup of the revenue, um, no budget is complete without a good donut chart. Um but this is just sort of
what's important here is is just to to look at the size of the slices of the donut if you will um and acknowledge that um the majority of our revenue and most districts for that matter is is made up of the advorum tax levy right
our tax levy and followed by our state aid followed by our extraordinary aid incentive and then the board has committed to uh once again using fund balance this year of $71,000
to support the general fund. On the appropriation side, this gets a a little more detailed and and a little busier. Um but here again, it's it's most important to look at the largest quote unquote slices or cuts of the of
the the doughut. Um, on the general education side, that blue piece at the very top of 14.4 million, special education, that light blue piece on the on the lower left hand side or teal or whatever you want to call it, um, of
11.1 million. And then our benefits, the purple slice on the bottom right hand corner, um, of 9.3 million that comprises the majority of not just ours, but most every budget. >> And can I point something out? Of course. >> Um
I think where the state needs to uh begin to think about rescuing districts. If you look at that teal um piece of the pie for special education, it's 11.1 million. General education, 14.4 million. They're not that far apart given that our special education
population is 16% of our total population. So these are areas that are growing in cost. And uh while we certainly understand uh our our need and desire to educate our students with disabilities, the state um has been
talking for years about providing uh more assistance um to cover special education and they just don't come through. Um the other um interesting growing piece, the transportation piece of the the the uh the donut there
at 1.3 million. It's important to we transport transport our kids to and from school. So that that number has been growing over the past that is just transport transportation of special students with um special needs u going
to out of district placement and um athletics. >> Yes, >> because our field trip um buses are paid for by the students uh paid for those buses. So that's really just athletics and and what's that?
uh the music program. >> Yeah, >> that's included in this >> because that be that's also kind of included like >> co coen extracurricular. >> So to be more specific here um and and as Dr. DJeppy is talking about um
demonstrated on this slide are the headwinds to building this budget. Um and on the left hand side the revenue she referred to uh the challenge of of the state meeting its really its obligation. I'm going to go out and say it's really an obligation to support
districts and providing um providing funding for special needs students. And as that population continues to grow, you know, districts need that support. Unfortunately, however, um the the state has the ability to move the goalposts as
it were in terms of allocating extraordinary aid. And unfortunately for Verona, um we've experienced a situation where um for fiscal 26, our current year, we budgeted at $1.2 million
expecting that, you know, we were going to get 1.2 or more uh based on the application that was made. And unfortunately um the state moved the goalposts and only funded um about 50%.
So that lowered our number down to about 933,000. >> I see we're putting in a 20% increase in health benefits. That's one of the lowest numbers I've seen from any district. >> So I'm going to get there and and
It's I mean it's 20%. But cautiously you're you're absolutely right in that in where we are and the the plan that we have um we do not participate uh in the state health benefits plan and they are
they are exposed to a 32% increase for fiscal 26 um well for fiscal 27 and 28% from fiscal 26. So, yes, you're right to to say, you know, we're we're in the we're in the best seat in a bad in the bad
neighborhood. >> Yeah, that's a that's a good metaphor. Um, but it looks like this number is a safe number to project. >> Yes. And and I have that in writing from our broker. Um, and and it could actually we could be could be in a place
where it could go as low as 18. >> Yes, thank you for the question because it's that's an important that's an important thing to pick up on. Um, jumping back to the revenue though, I talked a little bit about the lower extraordinary aid. So, we have to, you
know, moving forward, we need to be cognizant of what the state, you know, may or may not be able to provide in terms of extraordinary aid and set our set our uh our numbers, our budget numbers accordingly. And and as I'm going to demonstrate later, um, we've done that. We also have uh decreasing
interest rates. So, as the Fed fund rates continue to go down, um you know, what we were able to enjoy what every district really um and all of us personally were able to enjoy was a higher interest rate for um cash sitting
in the bank where we're less, you know, we're we're in a position now where that those Fed fund rates are going down. We've had three cuts and we're certainly, you know, expecting at least one more. Um so that does cut into our opportunity to to budget for revenue.
And then finally we have we are experiencing a loss in federal funding. Um not only the expiration of the co funding obviously but um we have been informed that we are not eligible for next year for title one >> did appeal that
>> and we are working on it. >> Now sorry the appeals based on the fact that we have the new condo complexes in town or no >> question. So what there this is going to be a reduction in in title one for the
next several years because it's based on the 2024 census which is off. So I'm appealing those census numbers. I did send uh our applications for state aid which has our um our official enrollment numbers in it. Uh their official
documents. I sent them for 23 24 and 2425. since it's a 2024 census. Um, and they're off um, significantly in enrollment. I did get a long- winded, hard to understand email back that I'm going to sh shuffle off to Kyle Trent,
our board attorney, and just say like, "What is does this make sense to you?" Because it didn't really make sense to me. Um, but they did uh, offer to speak to me on the phone, which I will do tomorrow. >> Um, another quick question. The lower extraordinary aid, you mentioned there
were there were gold posts that were moved by the the government around that. I had thought that maybe that was the the census shift that happened, but were there other goalposts that were >> No. So, in terms of extraordinary aid, um the way that works is that we we make
an application based on extraordinary costs above and beyond um what what the state says is is reasonable and customary. Uh so uh tuition's above a certain amount, we're able to uh apply for um basically reimbursement from the
state for for tuitions for out of district students that are above X amount um extraordinary services, occupational physical therapy, uh speech services, things like that. We're able to apply for those costs that are above and beyond what um the state says the
district should be responsible for. The issue and what I'm what I'm saying uh where they move the goalposts is when all of the districts make their applications, the state allocates x amount of money for that based on the based on the applications and the totals
of the applications that come in. The state generally is able to reimburse districts at a rate of usually about 70% sometimes 60 in this case it was 51. So that's why you know we I'm sure Um,
we thought the $1.2 million was going to be uh attainable, but unfortunately it was not. Yeah, great question. Um, on the appropriation side on the right side of the screen, these are just some of the major cost drivers. So, the
aforementioned increase in health benefits as well as the increase in salaries. And again, uh, 78% of our budget, you know, just under $ 38 million of our total revenue or our total budget is attributable to, um,
salaries and benefits. And I will say that that's that's somewhat less than some districts, right? Some districts they're in the 80% in terms of salaries and benefits. Other notable cost increase for this year is 3.5% increase in transportation. That's tied to CPI.
And um as we all know when you get your utilities bills lately um we're experiencing a 10% plus increase in utilities. And again, um, not to mention that I could I could keep going, you know, in terms of in terms of the
percentage increases, right? The technology contracts are all running, you know, plus three and a half to 5%. You know, of which, you know, everything that's technology related and those contracts and services, everything is going up beyond what we would want it to
be. >> Dr. Just for the public's benefit, the salary increase that you note here or salaries as just an appropriation, those in the donut chart a few slides back, those were included in general education and special education
>> because there was a benefit. >> Yes, that's a fantastic question. Yes, absolutely. Um, so in those larger pieces of the donut, the salaries are in there. So, general and special education. Yeah, great question. Could you give everyone a sense as to like of
the general education or special education, how much of that slice of the donut was specifically for salaries ballpark? >> It's most >> inside of those slices. It's it's like upward. It's like 90%. >> That's Yes. Thank you. >> Yeah. Really good question. So, so
really, you know, the reason that we speak in those percentages is that um so that the public and the board has an understanding that the um the movable costs, right? Those those unfixed costs is is a relatively minute part, right?
The the actual supplies um pens, paper, pencils, paper clips is a very small part of the budget. Thank you for the questions. So this is a difficult slide. Um
the initial run of the budget resulted and if you look at both the revenue and the appropriation side, we know that revenue and appropriations need to balance. Those two things need to be aligned. and the initial run of
the budget resulted in a3 one million dollar imbalance between revenue appropriations. Um, and that's very scary. That's that's a large number. So, in order to make those adjustments,
um, we first set to work to adjust the revenue side and let's see what we could do on the revenue side um, in order to help balance that. Um what we did was agreed to an increase in a projected interest despite the declining rate
environment. Uh I felt more comfortable that we could um allocate a little bit more and project a little bit more for interest. We did experience an increase in state aid and that's fantastic. Um that is 184,355 33 $335
that we did not plan for. Um and and that's a good number. the application of allowable healthcare waiver um that we'll talk about a little bit more that brings um almost $1.4 million into this
budget. And then again uh based on the feedback from the finance committee um the board's commitment to um support this budget through $71,000 of fund balance on the appropriation side. Um we need to
bring that number down. So, um, we set to work on a, uh, pretty much an overall decrease of between 10 and 20% on, um, our supply lines. And again, as I just said, it's it's a relatively small amount of the budget, but you know, when
we're trying to balance these scales, every dollar helps. And I can tell you that every single of our couple thousand accounts were analyzed over the past several years so that we could make smart decisions about where make those adjustments.
Some adjustments to staff scheduling resulted in staffing efficiencies um and some retirements are going to lead to attrition. Um so that is a good thing and that helps us make the necessary adjustments. However, um oh and then uh our ability
to renegotiate some of those existing contracts. So technology contracts, services contracts. Um, we leveraged as much negotiation as we could in order to bring the appropriations number down. Um, and that got us to uh $1.2 million
of of an imbalance. So, that was a lot of great work. Um, but $1.2 million is still a large number. And in order to uh accomplish that, we now have to consider um staffing staffing adjustments and
reductions in force. So um we have identified the potential of 13 positions that will be considered um and then shared at a later date upon the approval of the final approval of the budget.
>> And it's important to note too that the 13 positions necessarily represent 13 staff members. They're positions that we would eliminate that as a result of retirement, we wouldn't fill, but it's not like we're losing 13 staff members.
So, with the balance budget now, um we can take a look at the the impact on the on the taxpayer and the tax levy. Um here our statutory maximum of 2% yields just
under $800,000. We have an allowable healthcare adjustment um because of the size of the increase uh in our healthcare um even at the 20% um our allowable healthcare
adjustment is $1.4 million. So, taken together, um, with an average assessed home value of $74,600 for next year, the annual impact would
be $483 or $4025 per month. And again, that in that's all inclusive of um the general and fund debt service. I wasn't I didn't want to get into it's
a lot of numbers and very busy slides but suffice it to say one thing I do want to point out um there are some positives here and one of them is while we do carry um a sizable amount of debt
service um we are enjoying um a downward trend in in our obligation for debt service and um very wisely former boards and former administrations um made choices in order to re uh to to
um adjust and and refinance um some debt service. And what we have is um refunding debt service now. So what you're not seeing in that number is um
for this year uh $58,000 of of refunded debt service. So the debt levy on the fund side is going to come down quicker. We're actually in a negative debt debt levy situation right now, which is a
really good really smart decision. Um that that's helping to offset the total tax levy impact >> is that refunded money does not come back into the district for district use. It goes to the taxpayer for taxpayer relief. Correct. >> Correct. that is required to offset the
tax levy. Just just another um quick question about the um I think maybe it was the previous slide in terms of the that that gap that exists and and this is probably more for the public's benefit, but would
you say that that gap what's fueling that gap that that's now requiring this increase in tax levy is would you say that that's primarily relating to health care or rising health care costs or like what how would you distill sort of like the primary drivers of that.
>> So, yes and yes. Um, and I don't mean to be koi about that, but the largest un and I'm going to keep coming back to unsustainable cost increase is the health benefits. Um, but you know, it
does bear to keep in mind that our salary obligations are beyond 2%. Um, and many of the other costs that come into play, as I mentioned, I could, you know, the the the right side of the appropriations. I could go for, you know, forever um to highlight the cost
increases, but the major one, yes, is is the health benefits. And and again, we are not immune to that in in Verona. We to Mr. Walker's point earlier, we are actually somewhat I I don't want to say fortunate, but um we are we are in the
the the the best house in the bad neighborhood right now. >> Uh Dr. Riley, I was holding this question, but um Miss Kenotic kind of um inspired me to ask it now and if you want to table it for for later in this presentation, but uh you mentioned early
at the beginning um about the challenges of chapter 44 and that that goes a long way into um the problem that Miss Kenote cited and again for the benefit of the public is do we want to have an tangental aside
to explain the the impact of chapter 44 or is that something better to >> No, I could absolutely this is a this is the the perfect place to to to bring that to light. Um and I apologize that I don't have a slide in this presentation to highlight that but in a in a future
presentation I will be sure to do that. So the long and short of it is this and and again you know um chapter 44 uh great intentions. Um no one could have
seen these again unsustainable cost increases healthcare inflation and these costs that have that have resulted in um the increases. However, all that to say that chapter 44 poses uh a challenge in
that um the reimbursements to the districts or the withholding the employee contributions are capped and they're capped as a percentage of salaries rather than a percentage of the premium cost. So as the premium costs
increase, you know, at at a at a at a at a bottom bottom left to top right, the increases in the employee contributions stay somewhat horizontal. And and so the
challenge there is the gap between the increases in the premium costs and the relative sustained costs of the employee contributions. And that is belying this, you know, perceived failure of chapter 44. And
>> I guess if you had a slide, it would be a left-handed hockey stick almost. >> It it it would it would look like this, right? It would almost look to your point like a left-handed hockey stick where the premium costs are increasing, you know, literally like like we all
wished our retirement accounts did, whereas the employee contributions are. This is very crude, but um but the employee contributions are are not anywhere near keeping pace. >> And because it's like me to uh point
fingers um the decisions the legislative decisions that have been made uh on about schools on schools uh over the past 10 years have done nothing to further education in New Jersey. Um 2%
budget cap. The biggest one, I mean, it's it's gone now, but superintendent salary cap that was supposed to save taxpayers money with the change in the salary of one person in the district. It may have gotten you a once a month Starbucks. Um that was the first
legislative disaster um for uh it forced many quality superintendent out of the state uh at one time opening the door for novice superintendents like myself at the time um to try to navigate the
the situation at hand. Um then there was the 2% budget cap around the same time. Uh who thought that was going to work, right? Nothing goes up uh under 2%. And then ultimately chapter 44 when you're looking at districts that are
historically at the 2% budget cap, nobody was this is a pretty decent increase 3.7. Um it's unusual. Um, and that's starting to come back after COVID. But you're talking
about salaries that go up under 4% that you're using to calculate reimbursements for things that are going up between 15 and 30%. It mathematically doesn't make sense. It's not sustainable and no one needed a crystal ball to see
this coming. >> So, so again, we do come back to the the notion of an unsustainable cost increase. But Mr. going to your point. Um the way out of this unfortunately um is that we we all districts we are going
to need to be legislated out of this um because the the burden on the taxpayers is is again to Mr. Walker's point unsustainable. Just so that uh anyone that's watching or anyone in the room here understands chapter 78 which was
the employee contribution prior to chapter 44 actually required on a sliding scale uh for the employee to pay a percentage of the cost of their health care. Now it's based on their salary which um is a not
equitable really. think about someone who's, you know, low on the guide making with a full family benefit package versus someone who's at the top of the guide with single benefits. So, it's inequitable and creates um a gap in the
budget for for districts. One of the other things I think is important to um point out to the public and to the board um is that we work very hard to manage efficiencies and find cost savings. Um so we do participate in
several things um that help to mitigate some of these increases. of those the board knows that um since I came we've joined two additional cooperative purchasing agencies um for our next meeting I'll be bringing another um and
then you know by leveraging some of these cooperative purchases and we find more favorable pricings for goods and services um and that is a over the course of a year does result in significant cost savings um the aforementioned pool in which we
participate for insurance again um helps us to mitigate those rising costs, right? Uh certainly 20 is better than 32. We do participate in -ate funding and that helps to offset costs for our network connectivity and some of our equipment. So we will be going out for
um firewalls this year and and we'll be leveraging funding reimbursements to offset those costs as well and those are notable. um as well as I'm working very hard to um find shared transportation costs because again that that $1.2
million of transportation in a in a district that doesn't have um is basic we're basically a walking district uh that's that's quite a bit. So every anywhere that we can find and we can partner with some of our neighboring districts in order to find those
efficiencies that will result in significant savings for the district. So, in terms of uh the summary tonight, we're approving a tenative budget including the health benefit
waiver and the statutory travel maximum, all that's required for the submission of the budget to the executive county superintendent. And then we'll be looking forward to holding the statutory public budget hearing on the 28th of April. And we certain certainly
encourage um the good questions and participation um that certainly the the board has uh has provided tonight. And before I take any more questions, I just want to point out um and I alluded to it earlier that
you know despite some of the challenges that we're talking about here um and some very difficult and uncomfortable decisions that that are associated with this budget um I would be remiss if I didn't point out that things could be worse and as you
hear on the news in in some other places they are. And one of the reasons that they are not as bad as it could be um is is a result of of this board and previous board's uh oversight and
thoughtful stewardship in terms of uh helping the district administration over the past few years. Um we will get through this. We were we are going to be um we are going to be okay. Um we are not going to be in in the positions that
we're hearing of some other places. Um so in terms of our current financial position combined with some very thoughtful and detailed multi-year for forecasting um we will continue to be able to deliver the best possible education for the students of Verona.
And uh I just want to take the opportunity to publicly thank the administrators and and budget managers um one of whom we have in the audience tonight who has worked very hard um and and and and learned very quickly about
budgeting um uh certainly I want to thank the finance committee for the good feedback. It's very difficult to come in the middle of the year um and and jump into the and and pilot a ship that you didn't build or put in the air. um and and the feedback of the finance
committee um Dr. Digbi um and the board has been has been great to help balance this budget so that we are in a very much a fiscally responsible position. >> Thank you. >> Thank you Dr. Ryan.
>> So I I do have a couple um questions on that and um and working with you Dr. Riley on on some of the finance committee issues with uh Mr. Ferna as well. It felt like recession was a uh finance 101 if not uh I should say a 401
class. So thank you for your attention to the detail. Um going forward I do have a few questions to ask. You you mentioned the declining interest rate and obviously in the news the notion of a declining interest rate is probably
out the window now and will be at least stable if not maybe a little bit higher potentially even. Did and I think you alluded to this. Does this did that factor a little bit into how you were calculating our interest? >> It did. If you if you remember the
previous slide where when we were attempting to balance um we did think long and hard about that um and and we did we did bring back um some money into the budget that um that had initially so
so where we started with the forecast of of interest for the year um is not where we are now. It's it's it's much higher. >> And and also in the spirit of of looking ahead and I know um and one of the reasons at the beginning of the year I
was uh I think Miss Kenotig we we had this discussion about me being optimistic about the budget. My optimism lied in the fact as as you said it's we got probably the best seat in a rough neighborhood. >> Um the the challenge that you have Dr. Riley is is not just for this budget but
for subsequent budgets coming ahead and a lot of that um can be impacted by the overall county and the overall uh town's uh financial status. How much thought at this point or
factoring into um forward projections um come from like the uh reassessment that we just went through in Verona? That doesn't increase the pot of finances of course, but it does change maybe our chances of state
aid and and other contributions. So >> it does. >> How do we >> So So it's a very insightful question as as I would expect. Um and and yes, it does change the calculus a little bit. Um so
again, in terms it what it does is change the rates. So without going too far into the weeds, um it's changing the percentage of tax rate. So as your as your assessment um changes, it changes
the it lowers in effect the the tax rate. Um doesn't lower your taxes, unfortunately. And and again, my town went through three we went through three consecutive years of of reassessment. So, um I'm I'm well accustomed to this.
Um but it does change the calculus and and what it does, Mr. Boon, is forces us to think long and hard about what our aid numbers will look like moving forward. And we have to be cognizant of the fact that in part state aid is built
on um the perception of what the district is able to pay, right? The district share and that is le leveraged to what the average assessed home values are. So yes, we do need to be and we are um
cognizant of that and how we're going to build um future budgets. >> Thank you. Yes, sir. Can you just um clarify for the benefit of the public, you know, we're talking about interest earned on reserves that
we have, but there is a debt obligation and the fact that the bonds that we have issued in the past are not floating rate and the fixed rate. So, um, we could, you know, unfortunately
interest rates falling, um, could theoretically hurt us on the income side, but they don't necessarily benefit us on the interest expense side because the bonds are fixed. >> They do and they don't. What we actually do enjoy uh, relatively low interest on
our bonds. Um and of that um again when those referenda were passed the projects were eligible for SDA for state aid. So we do enjoy um a fairly sign substantial amount 1.1 almost $1.2 million in state
aid on our debt levy. Um so so that's a positive taken that aid taken in conjunction with the refunding uh debt levy that we have the refunding uh debt service that we have on one of our one of our loans um that actually bodess
well and that's what I was referring to earlier um our debt service is actually negative so it does help to benefit the overall levy >> your predecessor went through a round of re uh refinance
it was I you you could not have timed it any better. Honestly, it was a great choice and the right time to do it. I'm glad I did it in my own house at the time as well. >> Yeah. >> I just have a quick question regarding Mr. Boon's comment about the revaluation
that took place in Verona for this current year for 2026. The the new numbers took place. Um I find it frustrating um that the state look at
Verona or any district that just went through a revaluation to keep up with the market of housing. Um because there are districts or townships that don't go through revaluations as often as some
others do. Um, so for a for the state to look at us being a wealthy community because our homes are now assessed at closer to market value, if that market should crash, are they going to come and look at us because the market now has
crashed and our homes are not that valuable anymore? I doubt it. So, you know, to look at Verona or to a neighboring town and say, "Well, their homes are assessed at 400,000, but they haven't been reval or 10 years." So, I hope whoever is in
the state doing this, >> coming up with the numbers, >> it's really just part of the school funding formula. It's just the number variable that, >> right, that funding formula is just awful. So, >> it is one piece of it. I mean it's not the total piece of the pie. It is one portion of it. Um but to your point,
right, it's uh the analogy I can make is to gas prices, right? We seem >> timely. Uh we seem we always see the gas prices react in the upwards direction quickly and it takes more time for them to trickle back down. And I think to your point, right, if there were, you
know, a sort of 2006ish crash in in the in the housing market, um it would not be so quick. All that to say though that the reassessment it is a lagging indicator. It is a lagging piece of data or a lagging data point that is used in
the calculation. So um not by much but it offers us a one-year buffer. That's why to Mr. Bloom's very insightful question that is something that we need to be cognizant of you know moving into fiscal 28. And I think too, Miss Prrisco, that um I think all of this
discussion underscores the fact that, you know, we on the board here are doing the best we can under the all of these economic factors that are I don't want to sound like I'm complaining, but placed on us by state mandates and state
regulations. And I I deeply encourage everybody in the public who who's f who who's here logged in watching uh this discussion is that they need to be engaged with their local uh state representative their uh in the in the
assembly uh the their their state senator and and really engage with the folks that are going down on into Trenton because if they want to continue to have the school district that they know and love in Verona, a lot of that we we need um help at at the state level
and and our community really needs to understand that and engage with their representatives at that level as well. >> And to clarify, local fair share, which is the piece, the LFS, which is piece in the school funding reform act, is 50%
based on property value and 50% based on median income. So, it's a it's a 5050 of what they perceive as the district's wealth. questions. Moving on to our agenda. Moving on to
our student report by Mr. Ryan Go. >> Thank you, Ryan. >> Good evening. Um, last Wednesday, our concert band competed at the region concert band festival at Paripony High School and the concert band earned a silver rating and received the outstanding woodwin award uh recognizing
the band's exceptional performance and musicianship. And last Sunday, the percussion ensemble performed at the William Patterson Percussion Festival and the Verona Music Program will embark on a trip to Boston this upcoming Thursday where the uh jazz band will perform on the streets of Boston and
participate in a clinic. On Saturday, the model UN team took to the competition at the North Brunswick Township Model UN conference where three student students took home awards and the girls were in international club is hosting a feminine products drive and will be accepting donations for
menstrual and feminine hygiene products until April 17th. Donations are to be collected in the front lobby of the high school. Next week will be um our upcoming spring pep rally accompanied by a spirit week where students will celebrate their shared school spirit
community and spring athletics programs before spring break. And that's all my report tonight. Thank you. >> Great work. >> Thank you, Ryan. Moving on to our agenda. Um athletics winter recap by our assistant principal
of athletics, Justin Arodician. Did I say it right? No, I didn't. I >> Sorry, Justin. I just call you Justin. >> That works. Uh, good evening everybody. Um, we take great pride, especially, you
know, growing up in a town similar to Verona that really values athletics. It was really special to come into a district um that experienced some great success here in my first season as athletic director. So, um, good evening. This winter season was an outstanding one for Verona High School athletics
highlighted by championships, deep postseason runs, and impressive individual accomplishments across multiple programs. Starting with our girls winter track team, this group had tre a tremendous season, delivering strong performances at every meet and earning numerous medals along the way.
They finished second out of 18 teams in the SEC Conference Championship with eight athletes earning all conference honors. Several school records were broken this season, including the sprint uh medley relay team, which qualified for the New Balance Nationals in Boston. Gwen Neil also qualified individually
for the 800 meters. Um the team captured its third state championship in the past four years, uh recording five first place finishes. Seven athletes advanced to the group championships or four earned medals. Gwen Neil also capped off an incredible winter track career by
winning her third consecutive group championship in the 100 meters bin. Our boys basketball team also had a strong and well-rounded season finishing 16-1 and earning the seventh seed in the state tournament. They hosted their first home playoff game since 2017 and
placed second in the conference with a 7 and5 record. The season was defined by resilience and teamwork. After some key early season wins against Cedar Grove, the team built momentum, particularly in January where they won seven out of 10 games. They picked up quality wins against programs
like Northberg and Newark Academy in Belleville and showed growth by avenging earlier losses later in the season. What made this team especially unique was its unselfish style of play. They won 16 games without a single player, averaging more than nine points a game. um really
embodying and embracing a team first approach. Defensively, they were among the best in the conference, allowing just 43.8 points per game. That defensive identity carried them to the quarterfinal round of the state tournament. Off the court, the team raised over $15,000 through fundraising efforts,
including donations to St. Jude Children's Research Hospital. Um and 12 players earned varsity letters, four of which were recognized as all conference selections. Moving on to our girls basketball program. Um they continued their
success. The team finished 18 and eight, went nine and one in the SEC Liberty Division, earning their third consecutive conference title. They advanced to the second round of the Essex County tournament and reached a quarterfinals of the state tournament. The junior varsity team also had a
strong finishing um sorry strong showing finishing 12 and six with a roster largely comprised of firstear players which speaks to the strength of the development of our programs. Six players earned all conference honors including Morgan Rossy, Jada Bednar on the first
team, Taylor Mlan and Ellie Marteo on the second team and the Hagerty sisters receiving honorable mention recognitions along with senior Sinclair Zimski was selected as Verona's NJBCA scholar athlete.
Moving on to our wrestling program, it saw its highest um percentage of participation in the past decade with 25 boys and one um female competing this season. The team qualified for the sectional tournament and competed in a very competitive bracket at the county
level. Thomas Michael and Isha Zoo both placed six in rep um in their respective weight classes. At the district level, we had three regional qualifiers, Thomas Michael, Dante Palmer, and Corey Gonch. On the girls side, Yisha made history in just her second year becoming our first
female district competitor and first female regional qualifier. She advanced to their regional tournament and finished among the top eight, making a significant milestone for our program. And finally, with our girls swimming team, they advanced to the state sectional semifinals, highlighting a
strong postseason performance. Um, and individually, swimmer Vicky Sluck qualified for the state championship meet as well as post times that qualify for a potential all-American recognition representing a tremendous personal accomplishment. Overall, this winter
season showcased um competitive excellence, strong team culture, and pride across all our programs. We're extremely proud of our student athletes and coaches for their hard work, dedication, and the way they represent Verona High School. and um say thanks to Pam working hand in hand with you during
the winter season was a was a pleasure. So, thank you everybody and have a great night. >> And Justin, for what it's worth, I was really happy to hear uh your giving to the community and or the donation uh drive that you did for St. Jude. I I
just again seeing seeing the students engage in that kind of activity. I >> Yeah. We also did one we also had another fundraiser with I didn't mention with the girls basketball for minetses locally which um >> was a few thousand dollars but still it was everyone had t-shirts and support of the cause was really really great event
so >> that's the important part >> Justin good job on your first board report. >> Thank you. >> Thank you. >> Thank you. >> Uh moving on to committee reports finance. >> I think you saw it. We saw right we're
any we're good on crime. Um moving on to public comments on agenda action items. Anything that we will be voting on please if you would like to come to the podium and state your name for any action items.
None. Moving on to discussion items. We're not voting on anything that you're going to be talking about, right? >> No. So then you'll we'll have another discussion item at the public comment in a few sec just a just a few minutes.
>> Sorry Gavin. Any discussion items or new business? No correspondence. Okay. Moving on to our action items. I need a motion to approve
uh personnel resolutions A1 through A5. Motion by Mr. Waka, seconded by Mrs. Kotic. Any discussion? Dr. Riley. If you could please call roll. >> Mr. Walker. >> Yes. >> Mr. Per. >> Yes. >> Miss.
>> Yes. >> Mrs. Prisc. >> Yes. >> Mr. B. >> Yes. >> Motion. >> Thank you. Moving on to education. I need a motion to approve resolutions B1 through B2. >> So move. >> Motion by Mr. Boo. I mean Mr. Wata. Seconded by >> Second
>> Mr. Any discussion? Uh, Dr. Riley, if you could please call a roll. >> Mr. Walker, >> yes. >> Mr. Per, >> yes. >> Miss Kenotic. >> Yes. >> Mrs. Driscoll. >> Yes. >> Mr. B. >> Yes. >> Thank you. Moving on to our athletics co-curricular. Motion to approve
resolution C1. So moved. >> Moved by Miss Kenotic, seconded by >> seconded by Mr. Boon. Any discussion? Dr. Mr. Riley, if you could please call roll. >> Mr. Waka. >> Mr. Fur. >> Yes. >> Motic.
>> Yes. >> Mrs. Brisco. >> Yes. >> Mr. B. >> Yes. >> Thank you. Moving on to our facilities. Need a motion to approve resolutions D1 through D3. Moved by Mr. Pera, seconded by M.
Kenotic. Are there any discussions? >> Just uh what's uh what are we doing on B1 exactly? So, the uh Verona Police Department will be coordinating with other local agencies for the purposes of training uh
in the building in the high school over spring break. >> Emergency response. >> Okay, great. Thank you. >> Thank you, Dr. Robley, if you could please call RO. >> Mr. Waka. >> Miss Mr. Pera. >> Yes. >> Miss Kenotic. >> Yes. >> Mrs. Frisco.
>> Yes. >> Mr. B. >> Yes. >> Thank you. Moving on to finance. I need a motion to approve resolutions E1 through E12. Motion by Mr. Waka, seconded by >> Seconded by Mr. Boon. Are there any
discussions? Dr. Wy, if you can please call RO. >> Mr. Walker, >> yes. >> Mr. Turner, >> yes. >> Moder, >> yes. >> Mrs. Trriscoll, >> yes. >> Mr. Ber, >> yes. >> Thank you. And just one more on governance and policy resolution F1.
So moved by moved by Miss Kotic, seconded by Mr. Fera. Any discussion? Dr. Riley, if you could please call on that. >> Mr. Waka. >> Yes. >> Mr. Ferna. >> M. Kenotic. >> Yes. >> Mrs. Frisco.
>> Yes. >> Mr. B. >> Yes. >> Perfect. Thank you. Now we're going on to our public comments. Anyone from the public, from the large audience, please state your name. And you have three
minutes to address us. >> Hello. >> Hi. >> I'm a freshman student. My name is Gavin Lawyer. And I'm just here to put a face to the emails that I've been sending out to Miss uh Dr. Diane and
I'm interested in creating a boys volleyball team here at the high school. I've been trying this for over a year now and to no avail yet. This has been tried in years uh years prior multiple times.
I'm just here to put it out. Uh Mr. Aidzi has received a application as well as bunch of paperwork regarding the the teams that will be competing if this becomes reality. He said he is in
support of this. Um, yeah, that's about all I got. If any questions, please reach out to me at via my school year. >> Met about it in athletics committee yet. We haven't had an athletics committee uh meeting.
>> So, um once we uh go over that application uh in athletics committee, I'll share with the rest of the board. >> Is that a fall or is it spring? >> Didn't we didn't Verona used to have a boys team like years and years ago or am I >> like
aware of a boy's volleyball team ever in Verona? >> Not >> I mean like like at least 20 years ago. For some reason it sticks in my head, but >> not that I'm aware of. No. Um Gavin, I appreciate your emails. I appreciate you
coming here, spending over an hour with us listening through the budget, seeing what our struggles are. is one of our biggest challenges is where we come up with the funding. So, it'll definitely be something we talk about in athletics.
Um, normally when a new program does start, um, not that we've I'm trying to think of the last program that we've maybe our swim team, >> field hockey, >> field hockey, field hockey and swim. They start as a payto-play program. So
that would be the way if we were to figure things out um to make something happen. That's how it would have to start out as um correct, right? So um we will talk about this committee with
Justin too. And also you know a lot goes into funding availability with gym time because we all know how crunched we are for space in this facility. So, but thank you so much for coming out and reaching out and just advocating for
what what is best for the students and that's what we all want. We really do want what is best for every single one of you guys. But thank you for coming out here tonight. Appreciate it. >> Thank you. Thank you. >> Just curious, is there a threshold that they have? I mean, setting aside all the
budget constraints and all of that, is there a threshold in terms of interest that they have to demonstrate? Um, and what is that threshold? >> We actually don't have an official policy um uh of of how a an athletic um
team or program is uh apply. We don't have an applic share with us about that. >> Um some districts uh require it to be a club first and that builds um
engagement. Uh I think in in Gavin's application there's you have you have a good number of students that are interested. >> I have them. >> Mr. Aidacian has them, right? Mr. Abidacian has them. Yeah, he gave he
gave me a packet. >> I really butchered his name. >> Abidacian. >> I could be butchering it right now, too. I can say it really well when I'm looking at it. >> Yeah. >> Yeah. >> I don't know what I said, so I'm just gonna >> Yeah, you weren't even closed.
>> Thank you. >> All right. Well, thank you. Um Okay, that's it for our meeting. So, our next scheduled public meeting will be held on Thursday, April 16th, 2026, beginning with confidential session at 6 p.m.
Public session at 7 p.m. in the Verona High School Learning Commons. I need a motion to adjourn the meeting. >> So moved. >> Motion by Mr. Boon, seconded by Mr. Pera. All in favor? >> Thank you. It is now 8:13 and our
meeting is adjourned. Thank you. Have a great