JERSEY SHORE With the issue of school closure safely in the rearview mirror, at least for the moment, voters in the Jersey Shore Area School District were a
JERSEY SHORE With the issue of school closure safely in the rearview mirror, at least for the moment, voters in the Jersey Shore Area School District were a
PAT CROSSLEY pcrossley@sungazette.com
JERSEY SHORE The Jersey Shore Area School Board has passed a proposed budget for 2021-22 with no tax increase. However, district superintendent Brian Ulmer warns there may be changes in the spending plan before final adoption next month to make up a $883,141 deficit.
“What you passed as the proposed tonight, goes on display for 30 days. You can make changes to it before you approve it at the beginning of June,” Ulmer told the board.
As it stands, the budget shows total revenues of $42,808,049 and expenditures of $43,691,190, which leaves a deficit of $883,141. The unassigned fund balance is $3,713,977 which are funds that could be used to balance the budget.
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pcrossley@sungazette.com
JERSEY SHORE The Jersey Shore Area School District could realize a savings of at least $50,000, if not more, from the refinancing of debt following approval of a resolution setting the process in motion.
Under the motion, the district administration will work with PFM Financial Advisors LLC along with a bond counsel and the district’s solicitor to proceed with the issuance of general obligation bonds, series of 2021. The proceeds will be used in refunding the district’s four bonds from 2012 and 2015. PFM proposed using a dual track process for refunding which would compare using either a bank loan or a bond issue to determine the best option for the district.