see PDF of presentation
Revenues
- Tax Levy: $112,471,548
- Local sources: $344,000
- State Sources: $7,263,068
- Federal sources: $87,794
- Fund Balance: $100,000
- Total Revenues: $120,266,410
Expenses
- General Education Instruction: $38,610,601
- Special Education Instruction: $9,671,435
- Other Instruction: $1,976,116
- Student Activity and Athletics: $1,521,875
- Tuition: $4,978,294
- Student and Instruction Related Services: $21,194,556
- School Administration: $4,759,829
- General Administration: $4,636,408
- Operation of Plant and Maintenance: $8,650,023
- Transportation: $4,860,866
- Employee Benefits: $19,102,069
- Other: $304,338
- Total Expenditures: $120,266,410
Resolution to Approve 2017-2018 Tentative Budget
RESOLVED, that the Montclair Board of Education's tentative budget be approved for the 2017-2018 School Year utilizing the 2017-2018 state aid figures and a health care cost adjustment to the 2% tax levy increase totaling $351,518 and the Secretary to the Board of Education be authorized to submit the following budget to the Executive County Superintendent of Schools for approval in accordance with the statutory deadline:
|
General fund |
Special Revenue Fund |
Debt Service Fund |
Total |
2017-2018 Total Expenditures |
$120,266,410 |
$2,730,725 |
$0 |
$122,997,135 |
Less: Anticipated Revenues |
$7,794,862 |
$ 2,730,725 |
$0 |
$10,525,587 |
Taxes to be Raised |
$112,471,548 |
$0 |
$0 |
$112,471,548 |
2017 Estimated School Tax Levy Increase
- 2017-18 School Tax Levy $112,471,548
- Increase of 2.32% from the prior year tax levy
- Increase would be $44.59 for every $100,000 of assessed home value
- For a home with an assessed value of $500,000 the increase would be $222.95
- see chart to calculate estimated school tax levy increase