A 4% Hike for Red Bank BOE Budget

The Red Bank Board of Education, comprising the Red Bank Primary and Middle schools, adopted its $13.2 million budget last week; and, it translates into a 4 percent increase in the schools portion of the tax bill for property owners.

With a current tax levy of exactly $12,652,188, the budget represents a hike of more than half a million dollars, or $522,503, to precisely $13,174,691, a 4.13 percent increase.

The new tax rate means $93.39 more a year paid out in school taxes for a property owner with the borough's average assessment of $405,522. Monthly, it means an average of $7.32 more on the schools portion of the tax bill. 

On the lower end of the assessment spectrum, it means a $57.57 annual hike in the schools portion of the tax bill for a property assessed at $250,000, or $4.51 a month.

According to a statement on the district's Web site:

"The main goals of the budget include: 1.) maintaining the existing instructional programs and class size; 2.) adding four teaching positions to respond to the increased enrollment; 3.) enhancing instructional technology integration and preparation for online state assessments; 4.) acquiring instructional materials to support the Common Core State Standards; 5.) STEM Lab at the Primary School; 6.) Improved Seventh Grade Science Classroom, among others that reflect the commitment of the board of education to providing our students with welcoming, supportive, and challenging learning environments."

While school taxes will increase, the district got some good news in state aid, with a total of 13 percent more for 2013-14, or nearly $3 million ($2,969,550 exactly). Among other state aid appropriations for Red Bank, this year, as part of a first-time initiative, the district was the recipient of state's new "under-adequacy aid" of $339,219.

The state, according to the Department of Education, is giving out this aid to districts that show a need to provide an adequate education by falling below a 10 percent cost deficiency margin.

Some other interesting Red Bank school budget facts:

• Basic medical insurance costs increased 22 to 25 percent, not including dental and compensatory insurances;

• Transportation, special education and security aid all increased.

For a detailed presentation of the budget and more information, check the district's Web site by clicking here.