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Board hears that out-of-district special-education placements cost millions; bond refund yields about $1 million in savings
Summary
Board members pressed staff about high out-of-district special-education tuition costs — staff estimated roughly 130 students cost about $8–10 million — and the administration said an Oct. 2 bond-refunding produced roughly $1 million in total savings (about $71,000 annually).
Board members at a Toms River Regional School District budget and finance meeting asked for clearer context around large line items on the purchasing agenda and were told that much of the district’s high spending reflects out-of-district special-education tuition costs.
“Draw down” items on the purchasing list prompted questions from board member Mrs. Lamp, who asked what the term meant and why some tuition figures seemed unusually large. Joy, a district staff member, explained that draw-down purchases are encumbered via purchase order and paid over time: “we create a purchase order… it usually isn’t one payment… you draw down,” she said. Joy said the district currently has roughly 130 students placed out of district and estimated the associated tuition costs at about $8 million to $10 million.
The administration also reported on a recently completed bond refunding. According to the materials presented, the district’s Oct. 2 bond sale produced substantially better results than projected: total gross savings of about $1 million — described during the meeting as roughly $71,000 per year — and a net present value savings percentage reported at 6.78%.
Board members said the figures help explain why some budget lines are large and asked that staff provide more granular school- or program-level breakdowns. No formal vote or motion was taken on the purchasing agenda during the segment covered in the transcript.
The board also reviewed a short list of lease and sponsorship items (Ben Franklin Plumbing and Jag Physical Therapy) that together account for a modest annual revenue figure listed in the packet.
