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Pennsauken board approves $162.8 million 2024–25 budget, authorizes up to $8.5M from capital reserve
Summary
The Pennsauken Township Board of Education on May 2 approved the 2024–25 district budget totaling $162,812,444 and passed resolutions setting a $100,000 travel cap, a $50,000 public information cap, and authorizing up to $8.5 million from capital reserve and $500,000 from maintenance reserve for facilities and vehicle purchases.
The Pennsauken Township Board of Education on May 2 approved the 2024–25 school district budget totaling $162,812,444 and authorized several related resolutions, including a transfer of up to $8.5 million from the district’s capital reserve for planned capital projects.
Mrs. Young, board president, opened the special public hearing and presented the budget documents that show a General Fund total of $153,812,444, reserve transfers of $9,000,000 and overall totals of $171,408,581 across all funds. The document lists a local tax levy figure of $45,714,335 and notes a tax-levy enrollment adjustment of $614,811 under N.J.A.C. 6A:23A-11.2.
The board also approved a series of resolutions bundled with the budget: a $100,000 maximum for board and staff travel and professional development reimbursements for 2024–25…
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