Roxbury board adopts tentative-budget language using banked cap after business office details state-aid losses and rising costs

The Roxbury Township Board of Education voted on April 7, 2025, to approve revised language for its tentative 2026 school budget that uses banked cap to help cover a funding shortfall, the board's business administrator said.

Business Administrator Joseph Mondanaro told the board the district has lost millions in state aid in recent years and is facing rising fixed costs, particularly for special education and health benefits. "From 02/2019 through 2026, we lost $7,700,000," Mondanaro said during a presentation explaining the budget adjustments.

The move to include banked cap in the tentative budget is intended to cover specific adjustments allowed under state rules, Mondanaro said. The business office presented a proposed 2026 tax levy with the banked cap at $65,092,464, which Mondanaro said represents a 4.37% increase over 2025. He told the board that, on a $400,000 home, the change would translate to an increase of $356 in the annual school tax bill and a tax bill of $7,344.

Why it matters: Mondanaro said the district's revenue picture has changed because of adjustments to New Jersey's school funding formula and related S‑2 (SFRA re‑balancing) actions that reduced Roxbury's aid. He described three primary drivers of state aid: enrollment, property values (ratables), and household income. The district reported a loss of 335 on‑roll students from 2017 to 2025 and said on‑roll special‑education counts have increased.

State aid and local impacts: Mondanaro identified several specific aid changes: equalization aid fell from about $3.4 million last year to zero for 2026; categorical special education aid increased (the presentation cited $4.3 million for categorical special ed this year) while transportation…