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Teaneck Board approves $137.4 million preliminary 2026–27 budget, sets 2.99% tax‑levy increase
Summary
On March 11, 2026 the Teaneck Board of Education approved a Preliminary 2026–2027 School Year Budget totaling $137,376,458.99, including a combined tax levy increase of 2.99 (2% general levy + 0.99% health benefits). A second public hearing was scheduled for March 18.
The Teaneck Board of Education on March 11 approved a Preliminary 2026–2027 school budget totaling $137,376,458.99 and scheduled a follow‑up public hearing for March 18, 2026.
The preliminary appropriation includes $117,014,809.37 for current general expense, $8,311,332 for transfers to charter schools, $2,360,362 for capital outlay, $9,098,305.62 in special revenue and $591,650 for debt service. The board recorded total appropriations as $137,376,458.99 and described the budget as requiring a total tax levy authority of $108,055,550.37.
Board materials state the budget incorporates a 2% allowable tax levy increase (amounting to $2,098,369.75) and an allowable 0.99% increase for health benefits ($1,038,693.03), yielding a combined tax‑levy change of 2.99% for the coming year. The board also set a district travel and expense reimbursement maximum of $75,099.44 for 2026–2027 and directed the School Business Administrator to monitor travel expenditures.
To support planned projects and operating needs, the board authorized several reserve transfers in the preliminary budget: a $951,500 withdrawal from Maintenance Reserve to cover building maintenance and supplies; a $2,200,000 withdrawal from Capital Reserve to fund summer 2026 facility upgrades at multiple schools; and a $1,000,000 withdrawal from Unassigned Fund Balance. In addition, the board designated $3,000,000 of Excess Surplus to be used for the 2026–2027 budget.
Board materials note specific capital projects tied to the Capital Reserve withdrawal: playground paving and replenishment at six schools, gym stair replacement/repainting and cafeteria flooring at Lowell Elementary, and electrical upgrades at Thomas Jefferson Middle School. The materials warned that rebidding those projects could delay work or increase costs.
The board’s resolution accepting the preliminary budget states that the budget will comply with New Jersey requirements and be presented again at the March 18 regular meeting if adjustments are needed. The preliminary budget resolution appears in the agenda under the Finance & Budget section and was approved as presented.
