Medford Lakes board adopts $10.56 million FY 2026-27 budget, taps reserves for building upgrades

The Medford Lakes Board of Education approved its FY 2026-2027 final budget on April 29, adopting a total base budget of $10,562,228 and a general fund tax levy of $7,334,251.

Interim School Business Administrator Lynn Shugars presented the final budget and explained that the adopted plan includes a $54,861 spending growth limitation adjustment for health benefit costs, a $100,000 withdrawal from the district’s Maintenance Reserve to fund required maintenance activities, and a $167,000 transfer from the Capital Reserve to pay for lighting conversions to LED, a fire panel upgrade, pneumatic control calibration and replacement of air-handler units. The board adopted the budget by roll-call vote 4–0 (Dana Schultz, Kevin Kerfoot, Julia Moore, Benjamin Wilson; Emily Connerly absent).

The budget totals by fund, as presented, are: General Fund $10,129,674; Special Revenue Fund $143,834; Debt Service $288,720. The district included the SGLA adjustment and the specified reserve withdrawals/transfers in the final plan approved by the board. The motion to adopt the budget was made by Kevin Kerfoot and seconded by Benjamin Wilson.

The board noted the tentative budget had been approved earlier by the Executive County Superintendent on April 8 and had been publicly advertised on April 20 before the April 29 public hearing; no members of the public commented during the hearing.

Next steps: the adopted budget will be submitted per normal county and state procedures and the district will proceed with the listed maintenance and capital work funded by the reserves.