The following is via TLS:

The Board of Education has until April 21, 2014 to finalize its budget for the ensuing school year, and April 24, 2014, is the last day for the Executive County Superintendent to approve the budget.

The Board of Education has scheduled May 1, 2014 as the date for the public hearing and vote on the budget.

“Unfortunately, due to last year’s under-budgeting for the current year’s budget by the finance committee and unanticipated expenses, the District expects to have a shortfall of approximately $5 million by June 30, 2014,” District officials tell TLS.

“The challenge in developing a balanced budget for the coming year so that the District does not end up in a deficit position again, lies in the fact that State law prohibits school districts from raising the budget tax levy by more than 2% each year. Accordingly, the balanced budget currently presented to board members does not include courtesy busing which has a price-tag of over $7 million and benefits over 10,000 children.”

Officials say between now and April 21, 2014, the Board of Education and its finance committee “will be working tirelessly with the Administration and the State to develop a final budget which explores all possibilities to ensure that the children of Lakewood are provided with adequate busing services.”

Currently, all aspects of the tentative budget are in the preliminary stages and subject to significant modifications and revisions. Board members and the administration have said publicly they do not like this budget but are constrained by the 2% cap levy and are looking for ways to include courtesy and other needed items in the budget.

(Source: TLS)