Harding Township School 2025-2026 Budget Report Overview
"Explore the key details of Harding Township School's 2025-2026 tentative budget report, including district goals, operating budget projections, and the budget process audit. Learn about the factors influencing the operating budget and the community's involvement in the budget planning process."
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Presentation Transcript
1 Harding Township School Tentative Budget Report- 2025-2026 School Year Dr. Matthew A. Spelker-Superintendent John Jennings- Business Administrator March 17th, 2025
2 Board of Education Mr. Davor Gjivoje - President Dr. Alex Anastasiou Vice-President Mr. Abi Singh* Mr. Richard Bruno* Mrs. Melissa Krikos * Facilities and Finance Member
3 2024-2025 District Goals To identify learning gaps and measure the academic progress of our students through the administration of pre- and post-grade- level assessments in Reading, Math, and Writing that correlate with the NJSLS standards and Reader s/Writer s Workshop. To create a long-range facilities plan (LRFP) for 2025-2026 To plan for and engage community stakeholders in the development of the 2025-2030 District Strategic Plan To begin the initial planning for Harding Township School s centennial celebration in the 2026-2027 school year The proposed 2025-2026 budget will support yet to be named goals for the 2025-2026 school year. Annual goals are set every June/July.
4 2025-2026 Operating Budget The operating budget is: A collective document BOE, Administration, Parents, Staff, Community. A statement, in financial terms, of the district s educational priorities. A management tool that projects and balances the district s revenues and expenses. A reflection of the community s goals and values (small class size, technology, co-curricular activities, facilities maintenance, etc.)
5 2025-2026 Operating Budget Projections are made up to 15 months in the future. For example, budget (revenues and expenses) estimates made in March 2025 will have to remain accurate until June 30, 2026. This remains a draft document and is subject to change prior to the Public Hearing, May 5th, on the budget. Our budget has many line items that are increasing at a faster rate versus prior fiscal years. These items include salaries, health benefits, utilities, transportation and special education. These items crowd out other portions of the operating budget. Inflation remains a budget headwind. 2025-2026 budget was not developed by increasing each line by a certain percentage
6 Budget Process Audit health benefits roster. (completed) Review ACFR (Annual Comprehensive Financial Report), the 24/25 budget, and plan ahead for 25/26 operating budget. (completed) Forecasting and budgeting for OOD (Out of District) placements for 2025-2026. (completed) Principal/Director of Curriculum review of curriculum items. (completed) Refine revenue (tuition, federal grants) estimates for 2025-2026. (completed) Refine and update position control roster. (completed)
7 Budget Process Factors affecting the operating budget: Maintaining small class size. Student achievement-maintaining excellent results. Increases in health benefits premiums. Ongoing maintenance needs. HTEA salary increases. (as per CBA/contract) Continued technology upgrades. Curriculum development and support. Enrollment Projections. Professional development and other unfunded mandates from the state.
8 Revenue State aid * Tuition revenue Budgeted fund balance Misc. revenue Transportation fees Extraordinary Aid ** $ 150,000 Unchanged Building usage fees $802,139 + 33,267 $ 70,000 Unchanged $350,703 $100,000 Unchanged $ 13,000 Unchanged +$380 $ 9,000 Unchanged * ** Subject to change Estimated
9 Expenses HTEA salary increase (as per Collecitive Health benefits premium increase- estimated 10% Out Of District special education tuition rates +6-9%. Bargaining Agreement) Transportation Increase 6% Facilities improvements: - Capital Improvement: Cafeteria HVAC
10 State Aid $364,473 $0 $181,191 $225,137 $225,137 $233,677 $233,677 $238,834 $270,110 $406,173 $440,532 $462,201 $532,750 $632,194 $716,619 $768,872 $802,139 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020- 2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 Reduced increases over the past 4 years Change from P/Y -$364,473 +$181,191 +$ 43,946 Unchanged +$ 8,540 Unchanged +$ 5,157 +$ 31,276 +$136,063 +$ 34,359 +$ 21,669 +$ 70,549 +$ 99,444 +$ 84,425 +$ 52,253 +$ 33,267
11 State Aid 25-26 Comparison Municipality % increase/(decrease) Harding Township 4.33% Madison 6.00% Chatham 6.00% Morris County Average 2.13% State Average 3.32%
12 The Tentative 2025-2026 Budget Includes Critical Funding Items Link-it Data Warehouse System Genesis. Apptegy web service and alert T-Eval/Marshall Model. STAR assessment program. Rubicon online curriculum tool. My Learning Plan. My School Building/School Dude. AESOP (staff attendance and substitute procedures). Applitrack (human resources tool). School Wires (website management). Safe Schools (staff professional development). CDK (accounting software). Professional development and curriculum development. Technology upgrades (server, switches and web access points) Capital improvements Cafeteria HVAC
13 Banked Cap $ Amount Year Saved Year Expires 2014-2017 $0 N/A 2017-2018 $51,437 2020-2021 (used 2020-2021) 2018-2019 $275,249 2021-2022 (only $90,392 used 2021-2022 from $275,249 available, with the balance expired forever) 2019-2020 $20,000 2022-2023 Expired 2022-2023 87,151 $87,151 used in 2024-2025 2023-2024 144,755 $98,126 used in 2023-2024 $18,659 used in 2024-2025 $27,970 expires in 2026-2027 2024-2025 $59,426 $59,426 used in 2024-2025 (Healthcare Adjustment) 2025-2026 $114,227 $114,227 used in 2025-2026 (Healthcare Adjustment)
14 Local Tax Levy Years 1997-2011 2011-2017 2017-2025 Tax Levy 6.01% 2.34% 2.46% 2024-2025 2025-2026* 3.42% 2.95% Reduction from prior year A reflection of our continued fiscal prudence (inclusive of all allowable exemptions) Tentative Budget is subject to County and final BOE approval (May 5th meeting)
15 General Timeline Oct.-Dec. Administrative meetings November Budget guidelines approved/BOE February 27th State aid figures were released March 17th Tentative budget presented to BOE Prior to March 20th Tentative budget submitted to Executive County Superintendent for approval May 5th Public Hearing on the budget July 1 New fiscal year begins
16 Share of Taxes Going to Schools Municipality Avg School Taxes per household $7,022 Share of Taxes Going to Schools * 47% 62% 62% 63% 65% 66% 68% 70% Avg Taxes per household $14,959 Harding * Long-Hill $7,984 $12,985 Madison $8,910 $14,301 Chatham Boro $9,710 $15,414 Chatham Twp $10,753 $16,565 Mendham Boro $11,277 $17,015 Mendham Twp $13,745 $20,325 Mountain Lakes $15,750 $22,441 Source: N.J. Department of Community Affairs 2023 Data * Harding Township maintains the second lowest percentage in Morris County
17 Harding Township Tentative School Budget Questions or comments from Board members?
