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Colts Neck school board adopts tentative finance package, cites goal of third straight year with no tax increase
Summary
The Colts Neck Township School District Board of Education unanimously adopted a tentative finance package (items 1–4) March 24, 2026 and said it is focused on delivering a zero tax increase for a third consecutive year; officials said detailed revenue breakdowns will be presented at a May public hearing.
The Board of Education for the Colts Neck Township School District unanimously adopted a tentative finance package covering items one through four at its March 24, 2026 meeting, the board chair announced.
The adoption was approved by roll call vote: Mrs. Cameron—Yes; Mrs. Horowitz (participating remotely)—Yes; Mr. Rigney—Yes; Mr. Scales—Yes; Mrs. Volpe—Yes; and Kevin Walsh—Yes. The chair said the board considers the action tentative and that any changes after tonight must be approved by resolution at the public hearing in May.
Why it matters: Board members said the district is working to hold the local tax levy steady. “Right now, the board is focused and determined to deliver a zero tax increase for the third year in this district, which we are absolutely proud of doing so,” the board chair said on the record.
A resident asked for detail on the budget figures. Allison DeNoia, of 4 Westminster Drive, asked whether the district will have a 0% tax increase and requested clarification about “anticipated revenues of over $8 million” listed in budget materials.
Dr. Garabed responded that final details will be presented at the formal public hearing in May and outlined the kinds of revenue sources the district expects to use to balance appropriations: audited surplus, fund balance, and withdrawals from reserves (including the impact aid reserve, maintenance reserve and extraordinary reserves). “The appropriations come in the form of… audited surplus… fund balance… and withdrawal from reserves,” Dr. Garabed said, and added that the precise allocation and appropriation details will be provided when the budget is finalized.
The board publicly thanked members of the finance committee and staff for their work on the budget; the chair specifically recognized finance chairs Mr. Scarpa, Mr. O'Rico and Kevin Walsh.
What’s next: The tentative adoption does not finalize appropriations. Any substantive changes to appropriations or revenues after tonight must be adopted by resolution and read at the district’s May public hearing, when the district will present the final appropriation details.
