By Nick Norlen, Staff Writer
On Monday, a day before the Princeton Regional Board of Education was scheduled to approve a tentative budget, officials announced a potential tax levy increase even further under the cap — an increase of 3.32 percent, not the 3.6 previously announced.
The announcement was made at the board’s Finance Committee meeting Monday by Superintendent Judy Wilson, who said the reduction resulted from an unexpected increase in charter school aid from the state.
Though she said the information was late in reaching the district — officials were informed on Friday morning — “at least the news was good,” she said.
Board and finance committee member Alan Hegedus agreed.
”It was a nice piece of change. Totally unexpected,” he said. “Finally something good came out of Trenton.”
According to Ms. Wilson, the new levy is expected to result in a 1-cent tax decrease in the township, and a 9.5-cent increase in the borough.
Earlier estimates issued by the district projected a .5-cent decrease in the township and a 9-cent increase in the borough.
Ms. Wilson has noted that this year will mark the first time that the overall tax levy increase has come in under the 4 percent cap “in many, many years.”
Last year, the district’s proposed $56 million tax portion of budget was voted down — it passed by a narrow margin in the township, but lost in the borough.
However, board member and Finance Committee Chairman Joshua Leinsdorf said Friday that he doesn’t believe the district should approve a budget below the cap, since “4 percent is the limit and it’s a pretty modest limit” given the expenses out of the district’s control, such as energy and pension costs.
Although he said it’s possible that the district can continue to ask for spending waivers, he cited the possibility that adopting a budget below cap would do “permanent damage to the budget going out after years.”
Still, he said he doesn’t plan to vote against the budget even if it results in an increase that is below the cap.
The board is scheduled to approve a tentative budget at its meeting 8 p.m. tonight, Tuesday, at John Witherspoon Middle School.
A public hearing and adoption is scheduled for April 15.
