RBR Budget Up For Approval

Red Bank Regional Board of Education will hold a public hearing Wednesday for its $25.8 million budget for the 2012-13 school year.

The total budget, which represents a nearly $550,000, or 2 percent, decrease from the previous year's budget, includes an $18.989 million tax levy to be raised among the residents of the high school's three sending districts.

Despite the overall budget decrease, the tax levy includes a 1.8 percent, or $357,451, increase over last year's budget. Both Red Bank and Little Silver residents will see an increase in their tax bill, though Shrewsbury will not.

The high school tax rate per $100 of assessed property value for Little Silver residents is 53 cents, an increase of 3.9 cents, 38 cents for Red Bank residents, for a 1 cent increase, and 55 cents for Shrewsbury residents, a 2.6 cent decrease from last year.

Based on the average home assessment, residents in Little Silver will pay about $2,678 in annual regional school tax. For Shrewsbury residents the average is $2,198, and for Red Bank residents $1,537.

The amount of debt to be funded by local taxes is $729,405.

The per-pupil-cost for next year is $17,859, which is down $71 from the 2011-12 school year which was $17,930 and continues a downward trend started in 2010-11.

The board made several significant cuts to keep its budget within the mandated 2 percent cap, including cutting equipment and construction projects by 79 and 78 percent, respectively. Despite the cuts, increases in tuition for out of district students, special education costs, and health benefits, among other things, required board officials to raise more through taxes.