BE IT RESOLVED, the Board adopts the following proposed budget for the 2021-2022 school year:
| General Fund | Special Revenue | Debt Service | Total |
2021-22 Total Appropriations | $ | 66,532,441 | $ | 21,260,632 | $ | - | $ | 87,793,073 |
Less: Anticipated Revenues | | 12,356,130 | | 21,260,632 | | - | | 33,616,762 |
Taxes to be raised | $ | 54,176,311 | $ | - | $ | - | $ | 54,176,311 |
APPROPRIATIONS |
GENERAL FUND |
General Fund-Current Expense | $ | 54,356,545 |
General Fund-Capital Outlay | | 897,650 |
General Fund-Special Schools | | 280,980 |
General Fund-Charter Schools | | 10,997,266 |
TOTAL GENERAL FUND | $ | 66,532,441 |
| | |
SPECIAL REVENUE FUND | $ | 21,260,632 |
Transfer to Preschool from Local Funds | | (344,820) |
TOTAL APPROPRIATIONS | $ | 87,448,253 |
| | |
REVENUES |
GENERAL FUND |
Budgeted Fund Balance | $ | 2,273,942 |
Tuition from Individuals | | 0 |
Miscellaneous Local Revenues | | 1,358,621 |
State Aid | | 8,521,282 |
Federal Aid (SEMI & Impact Aid) | | 202,285 |
Local Tax Levy | | 54,176,311 |
TOTAL GENERAL FUND | $ | 66,532,441 |
| | |
SPECIAL REVENUE FUND |
Local Sources | $ | 109,792 |
State Sources | | 16,337,042 |
Federal Sources | | 4,468,978 |
TOTAL SPECIAL REVENUE FUND | $ | 20,915,812 |
TOTAL REVENUES | $ | 87,448,253 |
WHEREAS, in addition to the New Jersey student learning standards adopted by the State of New Jersey, Hoboken Public Schools, as a former Abbott district and by current regulations, is required to offer various programs not required of other New Jersey school districts which will not be deferred or incrementally completed over a longer period of time;
WHEREAS School district policy and N.J.A.C. 6A:23A-7.1-7.3 et seq. provides that the board of education shall establish in the annual school budget a maximum expenditure amount that may be allotted for such travel and expense reimbursement and the 2021-2022 budget includes a maximum travel appropriation of $80,000; now
THEREFORE BE IT FURTHER RESOLVED that the School Business Administrator shall track and record these costs to insure that the maximum amount is not exceeded; and
WHEREAS N.J.A.C. 6A:23A-5.2(1), the proposed budget provides for a maximum expenditure amount that is annually established for each type of professional service including public relations, with appropriate notification to the Board of Education if it becomes necessary to exceed the maximum; now
THEREFORE BE IT FURTHER RESOLVED upon such notification, the Board of Education may adopt a dollar increase to the maximum amount through board action.