School Budget Up for Approval Wednesday

The Hanover Park Regional Board of Education will hold a public hearing and a vote on the proposed school budget when they meet Wednesday.

William Albert, Jr., the business administrator for the Hanover Park Regional High School District, presented the proposed budget for the 2013-14 school year on March 6 with a 1.81 percent tax levy increase, despite a 3.02 percent increase in expenses.

The amount of money to be raised by taxes in the 2013-14 school year is $26,892,947, only a little over half a million dollars more than the $26,365,634 raised in the 2012-13 school year.

"This budget is very, very, very tight," Superintendent Carol Grossi said.

Currently the district has about $2 million in banked cap, which they can use to help cover costs in future years. Banked cap must be used within three years. This budget does not draw on any of those funds.

The impact is 4 cents per $100 of assessed value in East Hanover, 7 cents per $100 in Florham Park and 9 cents per $100 of assessed value in Hanover.

An estimated increase is included below:

The Hanover Park Board of Education meets at 7:30 p.m. Wednesday at the district office. A full agenda is attached in the Photos & Documents section of this article.