Galloway Township board submits $79.95 million FY26 budget, approves 2% tax levy plus partial bank cap

Galloway Township Board of Education on March 17 approved and submitted a proposed $79,946,056 general fund budget for the 2025–26 school year and moved to use a 2% tax levy increase plus a partial bank cap of $315,000 to close a budget shortfall.

The budget, submitted to the county office as required, carries a local tax levy of $38,213,658 and was approved by roll call at the meeting. Business Administrator Joy Nixon told the board the district received a $1,600,000 increase in categorical state aid but was capped by the state at a 6% maximum increase; administrators said the district would have been entitled to roughly $3,200,000 under the formula but received about half of that under the cap.

Why it matters: The administration said federal grant funding is expected to decline and district expenditures are rising faster than the increase in state aid, creating a shortfall that requires limited use of…