SPRING LAKE —- The Spring Lake Board of Education adopted a tentative budget during a special meeting on Monday night, unanimously approving the $8,127,745 spending plan with no increase in school taxes for the 2023-24 school year.
The budget must still be submitted to the state education department for approval by March 20. A public hearing is scheduled for April 24.
BOE President Noelle Giblin credited avoidance of a tax increase to “the fiscal responsibility we’ve demonstrated” and added, “I am proud of our board and school administration.”
Interim Business Administrator Joanette Femia announced that the board currently holds $973,000 in bank reserves, of which they have yet to tap. “This is a testament to being fiscally responsible to the taxpayers,” said Ms. Femia.
The school board plans to withdraw $300,000 from the district’s capital reserve account to partially fund unit ventilation replacements and to install new airway-pressure-release ventilation at H.W. Mountz School. The total project cost will amount to $520,000, which includes expenditures for construction elements or projects that are in addition to the facilities efficiency standards determined by the commissioner to achieve New Jersey Student Learning Standards.
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