Cranbury school board approves $24 million budget

Date:

Share post:

Members of the Cranbury Township Board of Education gave their seal of approval on the $24.6 million budget for operations in 2024-25.

The budget was adopted after a public hearing on April 24.

- Advertisement -

In Cranbury, the school tax rate is expected to be 99.7 cents per $100 of assessed valuation. The owner of an average home assessed at $606,744 will pay about $6,049 in school taxes for 2024-25.

To support the school district budget, property owners in the township are projected to pay a tax levy of $19.2 million in 2024-25.

The amount an individual pays in property taxes is determined by the assessed value of his home and/or property, and the tax rate that is set by each taxing entity.

School taxes are one item on a property owner’s total tax bill, which also includes municipal taxes and Middlesex County taxes.

The Cranbury School District budget covers items such as the Princeton High School (PHS) tuition, K-8 regular education programs, employee benefits, operations, maintenance, security, special education and transportation.

Budget revenues include: $1.7 million from withdrawal from capital reserve, an expected $1.1 million in state aid, $450,000 from withdrawal from tuition reserve, $345,089 from the fund (savings) balance, $165,000 from withdrawal from the maintenance reserve, and an expected $150,000 from extraordinary aid.

For appropriations, $4.6 million will go towards Princeton High School (PHS) tuition, $4.1 million to K-8 regular instruction programs, $3 million to employee benefits, $1.8 million will go toward transportation, $1.5 million to special programs, $1.4 million to facilities – operations, maintenance and security, $1.35 million towards student support services, and $1.3 million to out of district tuition for special education.

Stay Connected

564FansLike
606FollowersFollow

Current Issue

Latest News

Related articles

Princeton school board approves budget with three-cent increase

Princeton property owners will see a three-cent increase in the school district property tax rate, based on the...

Princeton High School students win national prize in Samsung competition

Princeton High School was named one of three national winners in the 14th annual Samsung Solve for Tomorrow...

‘It was meant to be’

Connecting through a call several years ago, George's Garage & Towing and the Friends of Solo Foundation forged...