School Budget Vote, April 27, 2011

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http://www.cranburyschool.org/documents/2011BudgetNewsletter.pdf

School Budget Vote/Election
Wednesday, April 27, 2011

On Wednesday, April 27, 2011, Cranbury voters will be asked to vote on the
proposed school budget for the 2011-2012 school year. The following discussion is
intended to address questions you may have about the budget and provide residents
with the facts of the proposed budget so they may make an informed decision at the
polls.

What is the purpose of the election?

The purpose of the election is to vote on taxes to be raised in support of the proposed
school budget and to elect three members to the Board of Education for three-year
terms.

What is provided for in this budget?

The 2011-12 proposed school district budget provides the necessary funds to support
the educational programs for students in grades PreK-12. The total proposed
budget expenditures of $15,482,513 enables the school district to maintain the educational
programs currently offered to students in grades PreK-8, while providing the necessary
funds to support tuition payments to Princeton Regional School District and
other schools attended by some of our special education students.

This year's budget is slightly below the 2% cap permitted by state law and reflects
a careful analysis of all spending. Over the last several months, the board has cautiously
and judiciously analyzed each line of the budget. In addition to current programs and
services, this proposed budget contains an additional section of first grade to accommo-date
increased class size, restores weekly Art and Industrial Arts instruction, and
French classes in kindergarten and first grades, and includes appropriations for class
trips, stipends for the upper grade musical set design, book clubs and the literary
magazine - items that were previously cut from last year’s budget, but were generously
funded by the PTO and Cranbury Education Foundation.

In addition, this proposed budget includes funds necessary to cover increases in
contractual salaries, employee benefit costs, and utility expenses. Spending on such
items as classroom supplies, cleaning and maintenance have been reduced again. Capital
outlays projects will address the exterior windows in the 1967 section of the building.
Funding for this project was budgeted from capitol reserves and will have no impact on
the tax levy. The completion of this project should reduce future operational costs.

What are the components of the proposed expenditures in the budget?

Approximately three-quarters (75%) of the proposed 2011-2012 budget is comprised
of salaries, wages, benefits and Princeton High School tuition.
The remaining 25% of our spending includes: special education out-of-district tuition,
capital outlay, operations and maintenance expense, classroom supplies, transportation,
and other purchased and miscellaneous expenses. The capital outlay project to
replace the 1967 single-pane windows is fully funded through the district’s capital reserve
and will provide future savings in operational expense.

How is the budget funded?

Local taxes provide for 89% or
$14,941,270, of the revenue for supporting
the education of Cranbury students. Last
year, the district had its state aid reduced to
$0. However, for the 2011-2012 budget,
Cranbury is allocated to receive $176,258,
which amounts to less than 1% of our budget.
At less than one percent of our budget, this
additional, unanticipated funding will help
keep the tax levy below the allowable 2% cap.
Additional funding comes from the federal
government, building usage fees and interest
earned on accounts.

How will this budget impact my
taxes?

The voters will be asked to approve
a total tax levy of $14,941,270,
which represents a 1.9% increase over
the 2010-11 tax levy and is below the
state cap. The tax rate will increase to
$.9809 from the 2010-11 budget of
$.9421, an increase of $.0387. The
aggregate value of Cranbury Township
has decreased more than 14% in the
last three years. This is a contributing
factor for the increase in the tax rate. The table below illustrates the tax impact per assessed
house value. The average home in Cranbury Township is valued at $608,331.
...