Bridgewater-Raritan School Board Presents Budget

At a meeting of the Bridgewater-Raritan Board of Education which was still in session at this writing (10:15 p.m.), Interim Superintendent of Schools Cheryl Dyer presented a budget update for the 2014-2015 school year.

The school district’s proposed operating budget for 2014-2015 stands at $143.1 million an increase of $3.6 million (2.54%) from last year's $139.5 million spending level.  That includes state aid of $9.3 million.

Taxes are scheduled to rise by $22.30 for every $100,000 of a home's assessment in Bridgewater.  In Raritan, due to a state-mandated formula that is based on the relationship of ratables between the two communities, there will be a scheduled decrease of $36.06 per $100,000 of a home's assessme

Since the real estate tax base (tax levy) excludes school state aid of $9.3 million and other funds held in reserve by the school district, the amount upon which the real estate tax gets computed for the 2014-2015 school year is  $124.9 million,  a tax increase of $2.4 million (1.86%) from last year's taxable base of $122.6 million.

The school tax increase is limited to 2.0% by state mandate, unless an appeal is filed with the County Executive Superintendent of Schools.

However, at the Wade Building this evening BR-BOE President Jeffrey Brookner said, "I'm worried about a year where we budget under cap . . . ," adding that "I think going below cap is a horrible decision. . . ," and "I will vote no on this budget if we think that we should save dollars that should go to next year."

That could be achieved by increasing cash reserves to be held for future contingencies, thereby increasing the 2014-2015 school budget.  The account that holds reserves is indicated as "Other" in this evening's presentation by Mrs. Dyer.

This account currently stands at a proposed $8.8 million for the 2014-2015 school year, an increase of $1.1 million (14.2%) over last year’s $7.8 million.

That budget category or another line item would be increased further should the board of education decide to raise the budget up to the 2% cap, and it would have a bearing on taxes.

According to Mrs. Dyer, a public hearing will be held on the budget on April 24 at which time the board of education is also scheduled to vote upon its final adoption.