Holmdel schools will start budget planning early after Superintendent Dr. Cascone told the Board of Education the district is facing a projected minimum $2,400,000 shortfall for the 2026–27 fiscal year and expects steep health-care cost increases.

Why it matters: The projected deficit could force program cuts or other difficult choices during the coming budget cycle; the superintendent said the board and administration will solicit community input as they weigh options.

Cascone told the board the $2,400,000 shortfall is “predicated on a prediction of our healthcare costs” and warned that national forecasts show health-care projections rising sharply, noting a figure of “36%.” He said the district has placed a benefits broker-of-record approval on the meeting agenda in hopes a new partner can propose “outside of the box ideas” to limit cost growth.

Vice President Lopresti, who chairs the business and finance committee, and other board members have met during the summer to start fiscal planning. Cascone said the district will provide regular updates to the community and may solicit public input on trade-offs over the next several months.

Cascone emphasized that the projected deficit and health-care inflation are statewide challenges for public education. He did not present a final budget or a board vote on specific reductions at the meeting; budget deliberations will continue through committee and upcoming public sessions.