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Franklin Lakes Board adopts $43.5 million budget for 2025–26, approves HVAC and reserve withdrawals
Summary
The Franklin Lakes Board of Education on April 29 adopted a $43,503,852 final budget for 2025–26, including $1,144,000 from capital reserve for HVAC upgrades, a $396,072 capital-reserve debt service withdrawal, and a $478,865 maintenance reserve withdrawal; the vote was unanimous.
The Franklin Lakes Board of Education on April 29 adopted a final 2025–26 school district budget totaling $43,503,852, with a local tax levy of $33,891,698. The budget vote followed a public hearing and a 20-minute public comment period on the budget held from 8:25 p.m. to 8:45 p.m.
Business Administrator and Board Secretary Dina Messery presented the budget to the Board and the public before the Board moved to adopt Resolution No. 1614. The resolution lists a general fund appropriation of $41,416,590, special revenue of $458,137 and debt service of $1,629,125. Motion to adopt the resolution was recorded as made by Scott Loia and seconded by Robert Spiotti; the meeting record states the motion passed with all in favor.
The adopted budget includes several specified reserve withdrawals and uses: a $1,144,000 withdrawal from Capital Reserve for other capital project costs specifically described as HVAC upgrades at Colonial Road School and Franklin Avenue Middle School; a $396,072 withdrawal from Capital Reserve for payment of debt service per the bond agreement; and a $478,865 withdrawal from the Maintenance Reserve Account for required maintenance activities as reported in the district’s comprehensive maintenance plan pursuant to N.J.A.C. 6A:26-20.5. The board record notes the tentative budget had been approved by the Executive County Superintendent on March 27, 2025 and was advertised in the Bergen Record on April 24, 2025.
The Board’s public record does not include detailed, attributable remarks from members of the public who spoke during the budget comment period. The Board adopted the budget at the April 29 meeting; the action is dated in the minutes as April 29, 2025.
What happens next: the adopted budget will be reflected in the district’s fiscal 2025–26 appropriations and related administrative actions; the meeting minutes record the formal adoption and the reserve withdrawals but do not specify any change in the tax levy beyond the figure in the resolution.
