Paramus School Board Approves $83 Million Tentative Budget

The Paramus Board of Education approved an $83 million tentative budget Monday night for the 2013-2014 school year.

The tentative budget would take in $71 million in local taxes based on the general tax levy, an increase of $1.3 million over last year. 

The overall tax levy amounts to $73.6 million including the debt service tax levy in the amount of $2.2 million, explained Steven Cea, business administator.

The overall tax levy increase is slightly under 2 percent which would amount to a $79 increase for the average homeowner, explained Cea.

The Paramus district did not get any additional help from the state this year. It will once again receive $1.9 million which is the same amount it received for 2012-2013. Cea said previously the budget was built around the expectation that there would be no increase in state aid.

Although the district didn't lose state aid funding the state is asking the district to pay an additional $142,000 towards its assessment on School Development Authority funding it had received by way of grants for previously completed building projects.

Cea explained the district had budgeted in the $52,000 it was to pay towards the assessment but the state increased the amount to $194,000 therefore the board has had to work in the additional expense. 

The overall spending plan is up about $3 million over last year. Cea says the largest components include $600,000 which came from capital reserve and roughly $700,000 from reserved state aid received last year which will be put towards additional building improvements next year.

The tentative budget will now be submitted to the county for their approval. A presentation on the budget will be put before the public at the March 21 Board of Education meeting set for 7 p.m.