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Franklin Lakes board reviews $43.5 million tentative budget including $1.144M HVAC capital reserve withdrawal
Summary
The superintendent presented the tentative FY 2025‑26 budget totaling $43,503,852, including a $1,144,000 withdrawal from Capital Reserve for HVAC upgrades and a $478,865 Maintenance Reserve withdrawal; the minutes do not record a final vote on the tentative budget.
The Franklin Lakes Board of Education reviewed a tentative budget for the 2025‑26 school year during its March 18 meeting. The superintendent recommended approval of a budget with a grand total of $43,503,852 and a local tax levy of $33,891,698.
Budget highlights recorded in the minutes include a General Fund total of $41,416,590 (local tax levy $33,212,548), Special Revenue of $458,137, and Debt Service of $1,629,125 (local tax levy $679,150). The general fund appropriations include a $1,144,000 withdrawal from Capital Reserve to fund HVAC upgrades at Colonial Road and Franklin Avenue Middle School and a $478,865 withdrawal from Maintenance Reserve for required facility maintenance activities reported in the district’s comprehensive maintenance plan.
The minutes note that the tentative budget was to be submitted to the Executive County Superintendent for approval and list the budget figures and planned withdrawals per N.J.A.C. reporting requirements. The recorded motion and the meeting minutes do not specify a yea‑nay tally or the formal outcome of the motion on Resolution 1613; the April 29, 2025 budget hearing listed in the minutes is the next procedural step.
Because the minutes do not record a definitive vote on Resolution 1613, the board’s final action on the tentative budget should be confirmed at the April 29 budget hearing or via certified minutes/record.
