On March 21, Superintendent John Carmello presented Draft 2 of the 2018-2019 school district budget. At $112,094,215, there is still a $1.1 million budget gap, though that gap has been reduced by more than 50 percent since Draft 1.
The final tax cap is 1.88 percent, a slight change from Draft 2. However, this will only generate $682,334 in additional revenue. Carmello warned that it will be difficult to go below the tax cap this year, given State Aid projections are far less than what the District needs to maintain programs and staff. The District is still underfunded by $13 million in Foundation Aid.
Draft 3 will be presented at the April 11 Board of Education Meeting, with a possible April 17 budget adoption.
Please see Mr. Carmello’s full Draft 2 presentation for details.