It’s good news on the Moorestown Township School District front, as the 2012–2013 budget is in line for a zero percent tax levy increase for the next school year.
The board of education unanimously approved the preliminary budget.
Thanks to an increase in state aid slated for next year by Gov. Chris Christie, the school district approved the preliminary $59.13 million budget, which features a flat general school tax levy from last year. The district will receive nearly $3 million in state aid for 2012–2013, an increase of more than $254,000 from last year’s budget.
Because of the increase, the district will not be including any pay to participate fees in the budget for this year.
The overall expenditures for 2012–2013 are down about $840,000 from 2011–2012, according to district representatives and a budget presentation held two weeks ago. The largest expenditure for this year is again employee salaries, which top the budget at $37.4 million.
Employee benefits — which include health benefits, pension, and social security — come in at more than $10 million for the year.
The tax levy for 2012–2013 is up by about .3 percent from 2011–2012, coming in at $53.6 million for 2012–2013, an increase of a little more than $165,000 from last year’s total. However, the district’s debt service for next year is being reduced by about $165,000.
The revenues for the district are down for 2013–2013, coming in at $53.6 million as well, down by about $840,000 from last year. There are no Advantage 3 revenues included in this year’s budget, representatives reported.
The board of education identified several capital projects that will be addressed in the next year, including the replacement of two school buses.
The district will also be reducing three full time staff members based on demographics.
The board of education will hold a public hearing on the document at the end of March. Because the board of education and township council decided to move the district elections to the November general election date, the public does not have the opportunity to vote on the budget.
If approved as is by the BOE, the budget will pass automatically because it falls within the 2 percent school tax increase cap.
