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Lakewood board approves tax-levy schedule, $18.6M bills list and $7.49M repayment to state
Summary
The board approved the 2026–27 monthly tax-levy payment schedule totaling $120,736,581, a June 24 bills list of $18,606,923.15, payroll items, and a required $7,490,671 repayment to the State from nonpublic program funds.
At its June 24 meeting the Lakewood Board of Education approved key finance items presented by Business Administrator Kevin Campbell, including the 2026–27 tax-levy payment schedule totaling $120,736,581 and the June 24 Bills List for the Warrant Account in the amount of $18,606,923.15. The board also approved cafeteria disbursements and payroll runs for May 29 and June 15.
Campbell told the board that a $7,490,671 repayment to the New Jersey Department of Education is required from the Special Revenue Fund because Nonpublic Completion Report receipts for 2024–25 exceeded expenditures; the payment is to be made by July 1, 2026. The business administrator also proposed raising the 2026–27 legal-services appropriation from $300,000 to $600,000 by appropriation transfer; the agenda noted N.J.A.C. 6A:23A-5.2(a)(3) procedures are implicated because per-pupil legal costs exceed 130% of the state average.
State Monitor Louise Davis was recorded as placing the bills list "under advisement" because of cash-flow concerns. The agenda included routine certifications required by statute (N.J.A.C. certification of no overexpenditures) and multiple payment approvals including vendor bills, payroll, and benefit payments.
The board approved the business-administrator portion of the agenda by roll-call vote later in the meeting.
