Township BOE Begins Budget Preparations

is going to be very busy the next couple of months. At the Freehold Township BOE meeting last night, Business Administrator, Brain Boyle explained in a presentation to the board how a budget is made for a school district.

Included in the presentation was a month play-by-play of what needs to be completed each month to stay on track. Coming up soon on the calendar is the deadline in which the budget, by law needs to be given to the County Superintendent

“The budget by law is due to the County Superintendent by March 4th,” said Boyle to the board. “But, we are not going to get our State Aid, which is our second largest source of revenue, until either February 29, or March 1.”  

In order to build a budget Boyle gave a seemingly easy three step process which is actually not so simple. According to Boyle, first a board needs to estimate their total appropriations, or out going costs. Then they need to estimate their total revenues. Currently, some places Township receives revenues from are Federal Grants and miscellaneous places such as fees, interest from investments, tuition, and from shared services like their agreement with Freehold Borough to rent out classrooms. The last step in making a budget is to balance appropriations with revenues. 

“By law our appropriations have to equal our revenues and that is where the rub is. That is where we do our hardest work,” explained Boyle.

Besides just balancing appropriations and revenue, the BOE has budget goals.  Boyle explained that these goals are to increase revenue, fund priorities, improve efficiencies and if possible, reduce appropriations and share services whenever possible.

The next Township BOE meeting will be on Jan. 24, in the Board Office Conference Room.