PRINCETON: Board closes in on school budget

   The Princeton Board of Education further discussed a projected $75.8 million operating budget for 2012-2013 at its Feb. 22 workshop meeting at the Valley Road building.
   The proposed budget has a 1.7 percent increase from the current $73.8 million operating budget. With the state-mandated 2 percent cap, the tax levy will increase by $1.2 million with a potential two-cent tax rate increase.
   The current budget carries a tax rate of $1.96 for the township and $2.04 for the borough per $100 of assessed value. A township homeowner of a house assessed at an average of $826,636 paid around $16,202 to support the school district budget while a borough resident of a home assessed at $747,665 paid around $15,252.
   An estimated tax increase of two cents would increase the school tax rate to $1.98 for the township and $2.06 for the borough. Assessed home values for the township and the borough are projected to increase about $200 and $140 respectively. This means township homeowners of a house assessed at an average of $822,263 would pay $16,280 and borough homeowners of a house assessed at an average of $748,155 would pay $15,411.
   The actual figures of the increases will be known by the Feb. 29 public budget meeting.
   The district is facing revenue loss from issues such as the disappearance of the Education Jobs fund, declining per pupil costs and fewer Cranbury students enrolling in the high school — creating a potential gap of around $500,000.
   The board is also trying to pull back in maintenance items in the operating budget. If the gap isn’t closed in other ways, it will look at the maintenance and capital project line. Money would be taken out and placed into capital reserve
   Superintendent Judy Wilson said they are not expecting any major cuts due to budgetary reasons and are confident that closing the gap will not be an issue.
   The proposed budget includes the teachers’ contract costs and all three union contracts fall within the cap.
   The board will now have to fully fund athletic programs, because parents are no longer voluntarily subsidizing the programs, as they had for the last two years. It also plan to increase dollars for technology and professional learning, which encompass the new teacher evaluation program, technology and common core standards.
   The district aims to match staffing levels for faculty at all grade levels, including staff for added high school science and social studies electives and middle school technology electives.
   Ms. Wilson said major maintenance is needed for all seven buildings and campuses.
   The 2012-2013 budget will remain slightly out of balance until the board receives final numbers for Princeton Charter School and a proposed Princeton International Academy Charter school, the actual tax rate and average residential assessed values and state aid.
   As of Feb. 22, the board was still uncertain what it would receive in terms of state aid — something it is counting on. Its members hope for an additional installment to get the district back to the 75 percent level of when they were cut back in 2010.”We really are very specific and strategic where this money goes. These are goals to the public — these changes in the budget aren’t just to raise revenue,” said Ms. Wilson. “This is the work of the board that will be accomplished as a result of investment.”
   The public hearing on the proposed budget is scheduled for 8 p.m., Feb. 29, at the John Witherspoon Middle School. The vote is for the preliminary budget to go to the county schools superintendent for review, which must be submitted by March 5.