Schools

School Board Approves Preliminary Budget That Limits Tax Increase to 1.6 Percent

A public hearing on the proposed budget is scheduled for 7 p.m. March 23.

The Ocean City Board of Education on Wednesday approved a preliminary school district budget that meets the new state-mandated 2 percent tax-increase cap with a little room to spare.

The board unanimously approved a $37,942,194 draft operating budget that raises $21,640,721 through taxes for the 2011-12 fiscal year, a 1.6-percent increase over 2010-11.

The vote starts a budget process that includes the following:

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  • Submission of the preliminary budget to the Cape May County superintendent by Friday, March 4.
  • A public hearing on the proposed school budget 7 p.m. March 23 at the Ocean City High School Community Room.
  • A school election that includes a public vote on the budget will be held on Wednesday, April 27. (A Wednesday election is a departure from most other school elections.)

The district benefited from a dramatic increase in aid from the state this year. But the $634,892 the district will receive for 2011-12 is still a fraction of the $2,178,000 it received for 2009-10.

A significant portion of the school district budget comes from tuition paid by the sending districts of Upper Township, Sea Isle City and Corbin City.

Find out what's happening in Ocean Citywith free, real-time updates from Patch.

The owner of a home assessed at the city average of $679,500 will pay an extra $20.68 in school taxes under the proposed budget, according to Business Administrator Tom Grossi. The tax rate is proposed to climb from 18.57¢ per $100 of assessed value to 18.87¢.

A summary of the general fund revenues is as follows.

2010-11 2011-12 % Change Tax Levy $21,289,923 $21,640,721 1.6% Tuition $13,997,829 $13,589,673 -2.9% Tuition Reserve $1,000,000 $500,000 -50% State Aid $248,391 $634,892 155.6% Miscellaneous $295,568 $291,926 -1.2% Education Jobs Act $0 $72,200 Fund Balance $470,097 $1,212,782 157.9% Total General Fund $37,301,808 $37,942,194 1.7%


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