Cedar Grove Board of Education Passes $26 Million Budget

The Cedar Grove Board of Education presented and approved the final $26 million budget for the 2013-2014 school year during Tuesday night's meeting.

The budget is a total of $26,222,578 with $24,129,217 being raised from the local tax levy. The tax levy is within the 2 percent cap so the budget will not have to go to a public vote, said Board of Education President Frank Mandala.

Homeowners will pay $1.08 per $100 of assessed valuation, said Superintendent Dr. Gene Polles.

With an average assessed value of a home in Cedar Grove at $466,200, an average homeowner will see a property tax increase of $103.06, or $8.59 per month.

In 2012-2013 the property tax increase was $55.34, down from an increase of $75 in 2011-2012.

“It fluctuates for a lot of different reasons,” Polles said of the property tax increases. “Most of it has to do with aid.”

“We've been very fortunate to at least have flat aid for this coming school year,” he added.

The Cedar Grove School District will receive $723,287 in aid from the state towards its 2013-2014 budget.

The remainder of the budget, not being raised by taxes includes the 2012-2013 budgeted fund balance of $795,374, rental income from Leonard R. Parks School to Essex Junior Academy of $387,600, state special education aid of $640,232 and several other items.

The highlights from the budgeted expenses were presented during the March 12 Board of Education budget presentation which included technology, curriculum and instruction, special education as well as athletics and co-curricular activities.

“We are in very good financial shape,” said Polles, who will be retiring at the end of the school year. “It is a budget that is fiscally responsible with still being able to meet the new issues that are going to start facing us next year. We have been responsive to that and we are sitting in a very nice position.”

The analysis of tax impact by the Cedar Grove Board of Education is as follows:

Tax Rate per $100
of Assessed Valuation

Click here for the full 2013-2014 Cedar Grove Board of Education Budget.