MANASQUAN — The Manasquan Board of Education held a public hearing and approved the 2023-2024 district budget at the April 25 meeting – announcing a $140.58 annual school tax bill increase for residents living in an average-assessed borough home valued at $639,003.
To the average Manasquan taxpayer, they will be paying $5,853.27 annually, or an $11.72 monthly tax increase.
The total budget will be $35,144,353, which is down from last year’s budget of $36,427,094.
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Business Administrator Peter Crawley broke down the budget for the board and all those attending. He explained that roughly 51.52 percent of the general fund revenues for the district come from the tax levy, while another 41.91 percent comes from tuition from the sending districts.
The rest comes from various sources, such as state aid. Manasquan Schools received $873,431 in state aid this year, a $20,424 increase from last year.
Mr. Crawley also broke down budget spending. This year, 64.02 percent will be spent on salaries for school staff, and 19.36 percent will be used for benefits. These are the two largest expenditures for the district. Other expenditures include tuition, transportation, utilities, legal, maintenance, capital outlay and equipment.
For a full budget breakdown, visit the Manasquan School district website at manasquanschools.org/domain/346.
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