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Nutley auditor: district posted fund‑balance gains but faces a roughly $2 million shortfall next year
Summary
Auditor Ray Cerinelli told the Nutley Board of Education the 2025 audit shows an improved fund balance but warned inflation and rising health‑benefit costs create about a $2 million gap next budget year unless the board cuts expenses or pursues a referendum.
Ray Cerinelli, the district’s external auditor, presented the Nutley Public School District’s 2025 audit and told the board the district finished the year with improved reserves but faces steep near‑term budget pressure.
Cerinelli said the district began the year with a $3,380,000 fund balance and ended with $5,000,006.79 — an increase of roughly $2.3 million — reflecting a balanced approach to budgeting and restrained spending. He told the board the largest local revenue source is the tax levy, which he identified as $65,400,000 for Nutley.
The auditor flagged three revenue notes: state aid is largely formula‑driven (with extraordinary aid available by application),…
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