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Board of Education returns additional state aid to taxpayers

Board of Education returns additional state aid to taxpayers

The Board of Education approved the following resolution at its public meeting on July 25, 2017:

WHEREAS, the 2017-2018 budget was approved by the Board of Education on April 25, 2017; and

WHEREAS, the State of New Jersey adopted the Appropriations Act on July 4, 2017; and

WHEREAS, the act increased the 2017-2018 school year state aid for Newton Board of Education by $221,748; and

WHEREAS on July 14, 2017 the New Jersey Department of Education has granted approval pursuant to N.J.A.C. 6A:23 A-13.3(d) for a district to appropriate unbudgeted state aid;

NOW THEREFORE BE IT RESOLVED that as permitted by N.J.S.A. 18A:22-8.1, Newton Board of Education will apply the entire $221,748 of additional state aid toward tax relief, reducing the 2017-2018 school year budget levy to $12,658,194; and

BE IT FURTHER RESOLVED that revised A4F's will be distributed as soon as possible to the following:  County Board of Taxation, Newton Tax Assessor, NJ Division of Local Governmental Services, Newton Town Clerk and the Executive County Superintendent; and

BE IT FURTHER RESOLVED that the following is the revised 2017-2018 school district budget:

Anticipated Enrollment                 1551  
   
Expenditures                                                                 Revenue
   
Charter Schools                         $88,674                     General Fund
General Current Expense $26,584,267                     Budgeted Fund Balance     $321,359
Capital Outlay                           $639,035                    Local Tax Levy                 $12,658,194
Special Revenue Fund             $588,015                    Misc. Revenue                       $146,527
Repayment of Debt                 $531,538                    Tuition                                 $7,331,889
     Extraordinary                         $50,000
     State Aid                            $6,165,257
     Capital Reserve                   $601,421
     SEMI                                        $37,329

Total Expenditures             $28,431,529                     Special Revenue Fund
                                                                                                  State                                               $0
                                                                                                  Federal                               $588,015

                                                                                          Debt Service Fund                                                                                                                                                                Budgeted Fund Balance      $5,996                                                                                                                              Local Tax Levy                   $525,542                                                                                                                              State Aid                                         $0

                                                                                              Total Revenue                   $28,431,529

BE IT FURTHER RESOLVED to acknowledge that the 2017-18 budget as described above results in a general fund tax levy of $12,658,194 and;

BE IT FURTHER RESOLVED that travel (current expense and special revenue accounts) for all teachers, administrators and Board of Education members shall not exceed $16,069 for the 2017-18 school year, and;

BE IT FURTHER RESOLVED that legal fees shall not exceed $41,250 for the 2017-18 school year, and;

BE IT FURTHER RESOLVED that $601,421 shall be withdrawn from Capital Reserve and used towards the cost of the following projects:  (a) Newton High School nurse’s office ($80,000); (b) Newton High School auditorium lighting and sound upgrade ($350,000); (c) demolition of house on West End Avenue property ($171,421).