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Rockaway Borough BOE agenda sets tax levy schedule and $47,500 capital reserve deposit
Summary
The Rockaway Borough Board of Education agenda for June 15, 2026, lists approval items including a $47,500 deposit to the district Capital Reserve Account and a T-1 tax-levy schedule totaling $11,825,552 for 2026–2027 (grand total with debt service $12,341,056).
The Rockaway Borough Board of Education’s June 15, 2026, agenda includes a resolution to deposit $47,500 into the district’s Capital Reserve Account to support future facilities and capital projects. The resolution directs the Business Administrator/Board Secretary to make the required accounting entries and cites N.J.S.A. 18A:21-2 and 18A:7G-31(c) as statutory authority for the reserve.
The agenda also lists routine financial approvals: the Bills, Claims, and Payrolls manifest for May 6 through June 15 totaling $1,426,285.43 and Board Secretary and Treasurer reports for April and May 2026. The district’s T-1 tax-levy schedule shows twelve school-tax payments largely at $985,463 each, totaling $11,825,552; debt service levy installments total $515,504, producing a grand total tax levy and debt service of $12,341,056 for 2026–2027. The agenda states, per NJAC disclosure requirements, that no budgetary line items were over-expended as of the listed dates.
