The Hoboken Board of Education has unanimously adopted a $67 million school budget for the 2022-2023 school year, its total reduced from the $88 million budget that was given preliminary approval back in March.
The new budget will increase the local tax levy to $55.3 million, a two percent increase from last year. They district is expected to receive $7.5 million in state aid, an 8.5 percent decrease from last year.
In expenses, the district anticipates spending $31 million on regular schools, and $11.7 million on charter schools, a $945,000 increase from last year.
Increased costs in the budget include a three percent increase in contractual salary and benefits, special education tuition costs, student transportation costs, and cleaning and maintenance protocols.
While keeping the tax levy increase to just two percent, school officials said the budget will allow the district to preserve an increase in staffing (with six additional teacher positions budgeted), and maintain all curricular programs, athletic programs and clubs and co- and extracurricular programs.
They also observed areas where costs could be reduced or offset, which they said were possible because of utilization of COVID grants.
“While a portion of the tax levy related to the Hoboken public school district will remain essentially flat again this year, the board’s main priority is to maintain the district’s academic and co-curricular programs, properly support teachers and staff, and expand where needed be in response to growing enrollment,” said Board President Sharyn Angley.
The overall budget is $20 million less than the $87 million budget that was adopted for the current school year.