Point Pleasant Boro Warns: Budget May Get Worse Amid Coronavirus

POINT PLEASANT BORO – Point Pleasant Boro schools warned about a potential "drop off" in revenues as the region continues to deal with the fallout from the coronavirus outbreak.

The district, which already raised taxes under its recently proposed $46 million budget, expressed concern that Point Pleasant Boro's revenues could fall unless it gets assistance.

The Board of Education approved the budget this week, which includes a tax increase of $0.0250 per $100 of assessed property value, or $97 for the average home.

Vincent S. Smith, the Point Pleasant Boro superintendent of schools, said districts are waiting to see how money from the CARES act will be dispensed, and if it will benefit local school districts.

The CARES Act is supposed to provide governors as much as $3 billion, collectively, to assist school districts, higher education institutions, and other educational programs.

Smith suggested the district may have to take further steps to reduce costs unless it gets assistance.

"We could get a letter saying state aid is reduced further," he said.

In the budget, the district also spelled out the increases for various property values:

The district is raising taxes since its state aid has been cut $481,766 for 2020-21 school year. More cuts are expected over the next few years. Read more: These 193-Plus Districts May Face Tax Hike: NJ School Aid Figures

Point Pleasant Boro did outline a number of programs and improvements that are coming, and that the district will pay for despite the cuts:

You can watch the budget presentation here: