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Glen Ridge presents $44.2 million tentative budget with 2.7% tax levy increase
Summary
Glen Ridge Public Schools presented a tentative 202627 general fund budget of about $44.2 million that would raise the tax levy 2.7% (including a 0.7% health benefit cap exception); the budget will go to public hearing and final adoption April 28.
The Glen Ridge Board of Education reviewed its tentative 202627 general fund budget Tuesday: approximately $44,200,000 with a proposed tax levy increase of 2.7%, which the presenter said includes a 0.7% health benefit cap exception permitted under state law.
Barbara Murphy, who presented the budget, said state aid for Glen Ridge was increased to $2,607,000, that tuition revenue is up roughly 35% driven by Pre-K demand, and that the district plans to withdraw $1,632,505 from Capital Reserve to fund a major high-school roof replacement. She also said the district plans to use $300,000 from the maintenance reserve for facilities repairs and listed several capital items and their approximate costs.
Key figures and impacts: Murphy presented an estimated tax impact on an average assessed house of $1,202,720 at $387.13 annually (about $32.26 monthly). She said salaries and employee benefits account for approximately 77% of the proposed general fund budget and noted ongoing cost pressures from health-benefit premium increases affecting districts statewide.
Next steps: The tentative budget will be submitted to the county for review and is scheduled for public hearing and final adoption on April 28. Board members thanked staff for the work and asked questions; no further action on adoption occurred at this meeting.
