The Board of Education adopted the 2025-26 budget with a near-zero tax increase during a board meeting in early May. See details:
COLTS NECK, NJ — The Colts Neck Township Board of Education has adopted its budget for the upcoming school year, maintaining a flat general fund tax levy and passing a 0.012% tax increase.
The board adopted its budget during a meeting in early May, following a presentation of budget details to meeting attendees.
Throughout the 2025-26 budget presentation, school officials walked community members through the budgeting process (which is done in collaboration between the school board, school administration and ad-hoc finance committee) as well as details of what the budget supports.
Goals and fiscal plans for the school board and district include developing and implementing a funding strategy to support capital improvement projects, prioritizing safety and security features, enhancing transparent and consistent communication, and more, according to the presentation.
The district also outlined a strategic plan for Colts Neck Township Schools, which included five main goals/things to focus on:
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“All of these goals are aligned,” Superintendent MaryJane Garibay said. “When the state comes in to evaluate our processes, they look to make sure there is an alignment through those things, so that we’re all working together to support our school community and for the benefit of our students.”
According to the 2025-26 fiscal plan, funds will be allocated to various programs, resources, and maintenance projects in Colts Neck schools, such as a new, research-based writing program (K-5), exploring/piloting new supplemental math resources, professional development and training opportunities for staff, maintaining facilities, implementing preventative maintenance and addressing capital projects.
Though the district has maintained a flat general fund tax levy and a near-zero tax increase, district officials also outlined challenges faced throughout the budgetary process, both at local and state levels.
One such challenge was a decrease in funding from the state. For the 2025-26 school year, Colts Neck Township Schools received $3,453,984 in state aid, a $179,614 difference (or roughly 5% less) than the year before.
While there was an overall reduction in state aid, Business Administrator Vincent Marasco did note some increases in select categories, such as a $128,240 increase in state aid for special education and a $38,297 increase in state aid for security.
Other factors that went into preparing the budget include estimated premium increases (healthcare and commercial lines insurance), an estimated charter school tuition decrease, and enrollment remaining “mostly static,” which impacts cost per pupil in an “inflationary, rising cost environment,” according to the presentation.
Though the district faced challenges throughout the budgetary process, school officials spoke about their pride in the board, administration and finance committee (comprised of Board Chair Jason Orrico and members Brian Scarpa, Phyllis Camera and Kevin Walsh) for the hours spent creating the budget, and for keeping the tax increase to 0.012%.
"Thank you to the members of the finance committee as well as the administration and Board of Education members who have given a lot of time and input and asked great questions," Garibay said. "It's a process, it's a relatively newer board, and we've enjoyed sharing the process, experience, and information about the district and everything that informs the annual school budget."
Board of Education President Angelique Volpe expressed her gratitude as well, emphasizing the work of the finance committee and the district's commitment to fiscal responsibility while producing a great education for students.
“I want the taxpayer to know that we hear you loud and clear,” Volpe said. “The seniors, the single moms, even the rich people in this town — we are watching your dollars. We are not overlooking anything; every little cent counts here.”
To watch a recording of the budget presentation and meeting, you can click here.
The 2025-26 budget presentation can be found here, and the meeting agenda can be found here.