The Quogue School Board of Education recently adopted a $7.7 million budget for the 2014-15 school year, a plan that calls for a nearly $87,000 decrease, or 1.1 percent, in overall spending.
The main cuts to the spending plan, which does not come close to piercing the state-imposed cap on tax levy increases, come from two different budget lines, according to Richard Benson, the superintendent and principal of the one-school district.
Four teachers are retiring at the end of the school year, bringing the budget line down some 15 percent, or $198,000, from about $1.3 million to just over $1.1 million, according to Mr. Benson. He said the district is looking to hire four new teachers.
Also, the district will finish paying off a construction bond this year that covered an addition to the school’s library, computer lab and special education room, Mr. Benson explained in an email Tuesday. He noted that the original bond for $1.75 million was paid off in increments of $160,000 per year.
The 2014-15 spending plan comes with a projected tax levy of $6.77 million—down about 4 percent from this year’s $7.08 million.
As a result, the district tax rate is expected to be finalized at around $1.95 per $1,000 of assessed value, or about 4.4 percent lower than this year’s rate of $2.04. If the projected rate remains the same, a taxpayer whose home is valued at $750,000 would pay about $1,462 in school property taxes next year, or $67 less than this year.
A budget presentation is scheduled for Tuesday, May 13, at 7:15 p.m., in the library of the Edgewood Road school. Taxpayers can then cast their ballots on the proposed budget on Tuesday, May 20.