Ridgewood Board of Education Approves Resolution for Adoption of the Revised 2020-2021 Budget

the staff of the Ridgewood blog

Ridgewood NJ, at the June 4th Ridgewood Board of Education meeting , Ms. Kelly presented the revised 2020-2021 final budget with adjustments in the amount of $630,000 that were determined by a joint committee of the Village Council and the Board of Education as a result of the failed budget. Ms. Kelly outlined the proposed cuts and adjusted revenues, which can be viewed on the first slide of her presentation. Of the $630,000 in adjustments to the budget, $150,000 is the result of an increase in revenue, and $480,000 reflects reductions on the expense side. Reductions are being made in the areas of custodial, capital outlay, summer maintenance, and administration/benefits as the result of a reduction in a business office position. The second slide of the presentation shows the revised budget lines, indicating changes in the following budget areas: benefits, facilities, administration, and capital.

The total proposed budget for the fiscal year 2021 is $114,677,538, and the overall increase is 1.64%. The increase in the general fund tax levy in the revised 2020-2021 budget is 1.34%, as opposed to the 2% originally proposed. The overall tax increase on the average assessed home is $171.95, as opposed to the original increase of $247.93; the difference is $75.98. The Board discussed the revised 2020-2021 budget, and Ms. Kelly responded to a question about the cut in state aid. She explained that the cut in state aid is not reflected in the revised 2020-2021 final budget because she cannot certify that change until it is official. Right now, state aid cuts are a proposal by the governor. Once we receive official notification, Ms. Kelly will adjust the budget to accommodate any cuts in state aid. When asked to explain the next steps if the budget was not passed by the Board, Dr. Fishbein shared that an appeal is extremely challenging for two reasons. First, the state formula considers our budget over adequacy even though we have a low per-pupil spending rate. The second consideration in an appeal is the local fair share; based on property values and income levels, the state feels our community can afford to contribute more than we do. Considering these two factors, it is unlikely that an appeal would be successful. The revised 2020-2021 final budget was approved.