| Peter F. Starrs, at Tuesday evening's Board of Education meeting. (Bergeron Image) |
This represents a Tax Levy Increase of 2%, the maximum amount permissible under New Jersey law, should the proposed budget remain unchanged between now and the April 17th, 2012 school election.
In his presentation, Dr. Schilder explained that reducing expenditures which reflect the 2% tax levy increase currently built into the proposed 2012-2013 school budget down to either 1.5%; 1.0%; or 0%; respectively, would reduce the proposed tentative budget of $133.8 million by $595,774; $1,191,500; or $2,383,101, respectively.
Key factors such as wage and salary increases and the amount of state aid – both of which are unknown at this time – could have a significant impact on the final budget.
