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Teaneck Board adopts $141.44 million 2026–27 budget and authorizes reserve withdrawals
Summary
The Teaneck Board of Education on May 13 adopted a final 2026–27 school budget totaling $141,441,370.99, approved a tax levy package that includes a 2% levy increase plus an additional .99% for health‑benefit costs, and authorized withdrawals from maintenance and capital reserves to fund summer projects.
The Teaneck Board of Education adopted its Final 2026–2027 School Year Budget at the May 13 meeting, approving total appropriations of $141,441,370.99.
The budget package lists a General Fund subtotal of $128,207,389.37, Special Revenue of $12,642,331.62 and Debt Service of $591,650.00. The agenda materials show an allowable 2% tax‑levy increase of $2,098,369.75 and an additional 0.99% health‑benefit increase of $1,038,693.03; the district reports total available tax‑levy authority of $108,055,550.37 and separately approved a local tax‑levy payment schedule of $108,647,200.
As part of the fiscal plan the board authorized several one‑time funding moves: a $951,500 withdrawal from the Maintenance Reserve to support building maintenance and supplies; a $2,200,000 withdrawal from Capital Reserve to supplement capital outlay for playground paving, gym stair and cafeteria flooring work, and electrical upgrades at Thomas Jefferson Middle School; a $1,000,000 withdrawal from Unassigned Fund Balance; and designation of $3,000,000 of Excess Surplus toward the 2026–27 budget.
The budget also includes $8,764,755 for charter school transfers and a $1,500,000 allowance for extraordinary aid toward special education expenses noted in agenda documents. The board approved the district’s submission of the New Jersey Department of Education Preschool Education Aid (PEA) planning workbook for $8,799,355.
Board Member Jonathan Rodriguez moved the budget item; Dr. Gerald Kirshenbaum seconded. Roll call on the Finance & Budget package (items 1–52) is recorded in the minutes with voting marks indicating approval by the members present.
The board’s action authorizes the Business Administrator and district staff to implement the budget and related transfers and to pursue necessary approvals for capital withdrawals where required by county or state review.
