Tonight’s BOE Meeting is canceled due to Black Out.
The Lakewood Board Of Education will hold a special Meeting today May 7, 2018 to adopt the school budget of $165 Million dollars for next year.
-Agenda HERE
-A request for a State Aid of $28,154,889
-$900,000 approved for Legal services
-Tax Levy $100,827,483
BE IT RESOLVED, that the Lakewood Board of Education adopts the school district’s
2018-2019 Budget and authorizes this budget be submitted to the Executive Ocean
County Superintendent of Schools as follows:
Budget Tax Levy
Total General Fund $164,265,485 Tax Levy $100,827,483
Total General Fund $164,265,485
Total Special Revenue Fund $61,604,831
Total Debt Service Fund $ 2,277,450
Total $228,147,766
BOE Agenda: May 7, 2018 3
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves this budget
after a Public Hearing held on Monday, May 7, 2018 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the School
Based Budgets (Fund 15) in the amount of $31,279,821 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the
following Tax Levy Cap/Tax Levy Growth Limitations and adjustments as follows:
Adjustment for Increase in Health Care Costs $1,915,006
Use of Banked Cap Balance $11,238
BE IT FURTHER RESOLVED, that this budget includes a request for a State Aid Advance in
the amount of $28,154,889 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the
maximum General Fund budgeted travel and related expense reimbursements in the
amount of $15,000, that the maximum amount approved in the pre-budget year was
$10,375 and that as of January 31, 2018 the total amount expended and encumbered
on travel is $598 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the
maximum amounts for contracted professional services as follows:
Legal Services $900,000
Audit Services $80,000
BE IT FURTHER RESOLVED, that this budget has proposed programs and services in
addition to the New Jersey Student Learning Standards adopted by the State Board of
Education and;
BE IT FURTHER RESOLVED that this budget has not been approved by the Ocean
Executive County Superintendent of Schools and the request for a State Aid Advance has
not been certified by the Commissioner of Education. Upon certification by the
Commissioner of Education, another Public Hearing will be held at which time an
amended budget with the certified amount of State Aid Advance will be approved by
the Board.
VI. ADJOURNMENT
The Lakewood Board Of Education will hold a special Meeting today May 7, 2018 to adopt the school budget of $165 Million dollars for next year.
-Agenda HERE
-A request for a State Aid of $28,154,889
-$900,000 approved for Legal services
-Tax Levy $100,827,483
BE IT RESOLVED, that the Lakewood Board of Education adopts the school district’s
2018-2019 Budget and authorizes this budget be submitted to the Executive Ocean
County Superintendent of Schools as follows:
Budget Tax Levy
Total General Fund $164,265,485 Tax Levy $100,827,483
Total General Fund $164,265,485
Total Special Revenue Fund $61,604,831
Total Debt Service Fund $ 2,277,450
Total $228,147,766
BOE Agenda: May 7, 2018 3
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves this budget
after a Public Hearing held on Monday, May 7, 2018 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the School
Based Budgets (Fund 15) in the amount of $31,279,821 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the
following Tax Levy Cap/Tax Levy Growth Limitations and adjustments as follows:
Adjustment for Increase in Health Care Costs $1,915,006
Use of Banked Cap Balance $11,238
BE IT FURTHER RESOLVED, that this budget includes a request for a State Aid Advance in
the amount of $28,154,889 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the
maximum General Fund budgeted travel and related expense reimbursements in the
amount of $15,000, that the maximum amount approved in the pre-budget year was
$10,375 and that as of January 31, 2018 the total amount expended and encumbered
on travel is $598 and;
BE IT FURTHER RESOLVED, that the Lakewood Board of Education approves the
maximum amounts for contracted professional services as follows:
Legal Services $900,000
Audit Services $80,000
BE IT FURTHER RESOLVED, that this budget has proposed programs and services in
addition to the New Jersey Student Learning Standards adopted by the State Board of
Education and;
BE IT FURTHER RESOLVED that this budget has not been approved by the Ocean
Executive County Superintendent of Schools and the request for a State Aid Advance has
not been certified by the Commissioner of Education. Upon certification by the
Commissioner of Education, another Public Hearing will be held at which time an
amended budget with the certified amount of State Aid Advance will be approved by
the Board.
VI. ADJOURNMENT