Schools

Holmdel Residents See 1.18% Tax Increase in School Budget

The Holmdel Board of Education budget vote will be held on March 21 at 8 p.m.

Updated: The 1.42 percent increase for taxpayers referred to the general fund. The net tax increase for Holmdel residents is 1.18 percent.

The Holmdel Board of Education kept tax increases below the two percent cap, with a budget of $52,606,750.

The 2013-14 budget is supported by a $48,450,529, representing a 1.18 percent tax increase for Holmdel residents. Taxpayers fund more than 90 percent of the schol district budget.

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The general fund increase represents 1.61 cents per $100 of an assessed home value. According to a district presentation, an average home assessed at $617,673 would see a $99.45 increase this year.

Holmdel school district Business Administrator Michael Petrizzo said the district is enhancing technology in classrooms and security throughout the district.

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

The budget also makes room for a new basic skills teacher at Village School, and a new special education teacher at Satz as well as a new JV volleyball coach.

As with many school districts, instruction and salary benefits costs represent the majority of the budget. In Holmdel, instruction costs have dropped 1.76 percent, due to anticipated retirements in the district.

Petrizzo said a decrease in school and central administration spending is a result of the state-imposed cap on the superintendent's contract.

District expenses have risen 1.31 percent, while debt repayment from previously approved bond projects has decreased 2.63 percent due to debt refinancing.

Holmdel School District state funding remained flat this year, but Petrizzo said a bill from the state puts the district's state funding at a deficit compared to last year.

"The last district referendum project we went through...was funded 40 percent by the state," Petrizzo said, referring to a 2001 bond which was approved by the public. "When they cut state aid, they also started pushing the costs down to these districts."

Petrizzo said in order to generate revenue, the district continues looking at facility rentals and tuition, an increased use of email over traditional mail, keeping maintenance repairs in-house and sharing fuel services with the township.

"We've been recognized nationally for our energy consumption reduction, which is over 50 percent." Petrizzo said, speaking to cost-saving measures. "We are at the point now that we are looking at other ways to reinvest in equipment and supplies, to create greater efficiencies."

A public hearing and board vote on the budget will take place on March 21 at 8 p.m. in the Satz library.


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