Schools
School Board Unanimously Passes $41.1 Million Budget
Ocean City voters go to the polls on Wednesday, April 27 to decide whether to approve the budget.
The Ocean City Board of Education voted unanimously Wednesday night to send a $41,065,800 budget to Ocean City voters on April 27.
The figure includes a $37,942,194 operating budget and raises $21,640,721 from Ocean City taxpayers.
The operating budget represents a 1.7 percent increase from 2010-11 to 2011-12. If approved, the owner of an average $679,500 home in Ocean City would pay an extra $20.68 in taxes next year.
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The budget keeps the number of staff members the same for the new fiscal year, but some anticipated retirements would bring in new hires at lower pay grades, according to Business Administrator Tom Grossi. The cost of benefits remains flat in the new budget with teachers contributing 1.5 percent of their salaries beginning on July 1.
Wednesday's meeting included a public hearing on the proposed budget, but no member of the public spoke.
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A general summary of the budget is as follows:
APPROPRIATIONS BUDGET
2010-11 2011-12 % Change Regular Programs - Instruction $13,855,212 $13,949,549 0.6% Special Programs - Instruction $3,812,408 $3,833,314 0.5% Student Activities - Athletics/Clubs $889,851 $889,801 0.0% Out of District Tuition $318,000 $365,244 14.9% Student Support Services $3,718,246 $3,735,700 0.5% Administration $2,808,377 $2,802,733 -0.2% Plant Operations $3,843,217 $3,844,012 0.0% Student Transportation $941,212 $949,956 0.9% Employee Benefits $6,872,114 $6,838,671 -0.4% Capital Expenditures $153,346 $642,603 319.0% Charter Schools $68,975 $72,761 5.5% Special Schools $20,850 $20,850 0.0% Total General Fund $37,301,808 $37,942,194 1.7%
REVENUE BUDGET
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%The budget increases the tax levy by 1.65 percent, which falls safely under the 2 percent cap mandated by the state. The 0.35 percent cushion can be banked to exceed the cap in future years.
The tax rate increases from 18.57¢ for every $100 of assessed value to 18.87¢.
Debt service (primarily on the new high school and an intermediate school project) of $2,613,163 and special revenue funds of a half million make up the difference between the $37.9 million operating budget and the $41.1 million total budget.
Members of the public can email Business Administrator Tom Grossi at tgrossi@ocean.city.k12.nj.us with specific questions about the budget.
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