General Fund

PROPOSED BUDGET, approved at 3-7-2011 BOE meeting.                                

Total General Fund: $704,304                       
State Aid: $ 6,759                                               
Tax Levy: $649,709                                      
Budgeted Fund Balance: $25,536            

Debt Service Fund

Debt State Aid: $23,614                               
Debt Tax Levy: $8,330                                              

Tax Rate/Impact

The budget has a school tax rate of approx. 0.67 (0.68 with debt service).  Multiply this tax rate by the assessed value of your home or property to calculate your approx. tax impact of the Stockton School budget. 

Compared to 2010-11 Budget

• The 2011-12 proposed budget has a increase of 2% on the school tax levy.  For other comparisons and historical data, click here.

• State Aid was increased from $0  to $6,759. (State Aid in 2009-2010 and 2008-2009.was $14,244. In 2010-2011 it was $0.)
• Stockton School is anticipated to be a Choice School District in 2011-2012.  If this occurs, no tuition fees would be collected for K-6 NJ students next year. It is anticipated that District will receive State Aid for these students, but not until the following 2012-2013 school year.
• Since revenues exceeded expenditures, fund balance monies were allocated.
• The current tax rate for the Stockton School District  is the fourth lowest (23 out of 26) municipalities in the county.
• Debt Service Aid was consolidated for two years, rather than one.  This increased the State's contribution and reduced the local tax levy for debt service, but only for one year.
• The Stockton Board of Education received a Historical Grant payment for $219,769 for the summer 2008 building restoration project, which was used to reduce the amount of the public referendum bond.
• The PTO will continue to sponsor educational programs, such as school field trips and assemblies.  We also receive grants from the LAEF (our local education foundation) and the Municipal Alliance for educational programs and materials.
• Pre-Kindergarten program for four-year olds and the K-6 tuition programs will continue. Pre-K and PA Private tuition funds will be used to reduce the local tax levy.
• Teacher negotiations were completed in the spring of 2010-2013 with increases of 1%, 2%, and 3%;  They were revised in June 2010 to 2.1%, 3.1%, and 4.1% to compensate for the mandated 1.5% (pretax) deduction for health benefits.
• The 2010-2015 CSA contract with increases of 0%, 0%, 0%, 0.5%, and 1%.   A one-time only conditional increase of 1.1% was given effective July 1, 2011 to offset a 1.5% pre-tax deduction of the CSA salary for health insurance coverage, as provided by NJ Statute.
• Shared and contracted services, such as a school business administrator, music teacher, child study team, speech and occupational services, are utilized to reduce costs.  Cooperative purchasing from the Hunterdon County Educational Service Commission (ESC) demonstrated a savings of $1,930 last school year.
• The school year runs from June 30th- July 1st while the local tax levy that comes from municipalities has a calendar from January 1st to December 31st.  Therefore the taxes needed to be raised from one school year are calculated from two calendar years- 1/2 at the previous year's rate and 1/2 at the current year's rate.

Changed at March 28th BOE Public Budget Hearing:  At the 3-28-11 meeting the Stockton BOE unanimously (of members present) voted to approve reducing anticipated Extraordinary Aid from $20,000 to $5,000 and increasing needed Fund Balance from $10,536 to $25,536, to make up this difference.  This change was made due to the reluctance of the board to rely on what has historically been an unstable funding source.  The overall tax levy and total budget amount did not change from the above figures.