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Ridgewood board adopts tentative 2026–27 budget, taps reserves to cover rising health costs
Summary
The Ridgewood Board of Education approved a preliminary 2026–27 budget for county review and authorized withdrawals from capital, maintenance and emergency reserves to cover sharp increases in health‑benefit premiums. The action includes a one‑time transfer from the Infant Toddler Development Center enterprise fund and advances final adoption to the May 4 meeting.
The Ridgewood Board of Education voted to adopt a tentative 2026–27 budget that relies on reserve withdrawals and a state waiver to absorb substantial increases in health‑benefit costs.
Superintendent Dr. Schwartz and the district business office framed the budget as a response to sharply rising health insurance premiums, declining state aid and higher out‑of‑district tuition costs. Dr. Schwartz said the district's projected health premium obligation for the coming year is in the neighborhood of $19,000,009 and described that rise as the chief driver of the proposed spending plan. "The primary driver this year around is health benefits," Dr. Schwartz said during the presentation.
To balance the preliminary numbers, the board authorized multiple reserve withdrawals and budgetary transfers. The maintenance reserve will be tapped for $1,400,000 to cover required facility maintenance; the board also authorized a draw on capital reserves for identified capital projects and used the emergency reserve to help offset projected health‑benefit increases under the health‑cost waiver allowed by state rules. The meeting record shows the board also approved a transfer of net position from the Infant Toddler Development Center (ITDC) enterprise fund into the general fund for one‑time needs; a board member recorded an abstention on that transfer.
Board members repeatedly pressed administrators for more detailed modeling of revenue and expense assumptions. Administrators said the preliminary budget includes assumptions about additional in‑district tuition from expanded Glenn School capacity, transfers from enterprise funds, and possible revenue tied to negotiated contract changes; they warned that the plan contains projections that must be validated before final adoption. "This is the tentative budget process," Dr. Schwartz said, noting final votes and more detailed financial work remain before the May 4 adoption.
The adoption tonight sends the preliminary budget to the county superintendent for review of efficiency and statutory compliance. The board will return on May 4 for the legally required final adoption vote and public hearing on the final levy. If adjustments are needed between now and then, administrators said they will present those changes to the board.
