At its March 18 meeting, the Livingston Public Schools Board of Education held a public hearing on bond refunding and passed the preliminary budget for the 2025-26 school year.
Bond Refunding
Business administrator/board secretary Jessica Rapp led a presentation about refunding the callable portion of the district’s bonds.
“The taxpayers will see a savings on the refunding of these bonds,” she said.
She explained that, as of this year, the district’s outstanding 2015 bond series will be eligible to be sold for $39 million. These bonds will mature annually from July, 2025,through July, 2037.
“The projected savings of doing this refunding is approximately $3.9 million dollars over the life of the bonds with an estimated average annual savings of300,000,” said Rapp. “That will go back to the taxpayers because it’s part of the debt service tax levy that was voted on, so that will actually reduce that debt service on a yearly basis.”
The anticipated sale date for these bonds is April 9, and the redemption date is scheduled for July 15, 2025.
The Board unanimously approved the resolution to sell the bonds.
Tentative Budget
The Board then continued its discussion on the district’s preliminary budget for the 2025-26 school year.
As previously reported, the tentative budget will allow for all programming and staffing to remain in place. All contracts will be honored, and the tentative budget will continue to support technology updates and curriculum initiatives.
Some of the challenges the Board faced with the preliminary budget included utility costs goingup 20 to 30 percent, medical insurance increases, and transportation and tuition costs going up at least ten percent.
Additional revenues in the budget come from the planned expansion of the integratedpreschoolprogram, the (Continued on Page A-5) (Continued from Page A-1) implementation of student activity fees, and an increase in the cost of subscription busing.
Board of Education
Line items from the budget include a budgeted fund balance of $1,883,745; $842,473 of banked capital is utilized; an increase of $1,387,390 in health benefits; an operating tax levy of 3.55 percent, and a decrease in debt service tax levy of 0.78 percent.
The budget also includes a capital reserve withdrawal in the amount of $5,158,831 for various upgrades throughout the district, including but not limited to boiler replacements, the paving of sidewalks, andupdates to floors and stairways.
A change in medical benefits has led to the restoration of $268,225 to the budget.
Fishbein addressed the addition of a yearly student activity fee of $ 100 for middle schoolers and $200 for high school students. He explained that it “will allow us to bring sports back under the Livingston Board of Education umbrella. Right now we do carry some of that expense to have that program, but now the coaches will be employed by the Board of Ed.”
He also said that concerns were noted about different voluntary fees assigned by some athletic groups, as well as activities like theater and marching band.
“The district fee would not replace parent group fees because our activity fees come in as a revenue and help to defray the cost of the student activities that the Board of Ed. pays for,” he said.
The Board then unanimously voted to pass the preliminary budget.
Calendar Update
Fishbein announced an adjustment to the school calendar.
Due to unused snow days, the district will be closed on Monday, April 21, and Tuesday, May 27.
Public Comment
During the public comment portion of the meeting, Jenna Foley - a Class of 2019 Livingston High School graduate who is currently a substitute at the school and works with the marching band - requested that substitute teachers have better access to Wi-Fi. She said that she currently has to use her phone plan’s mobile hot spot when teaching.
“I believe that if this was at least considered by the Board it would be very helpful to help substitutes be able to teach in their classes to the full degree when they’re just thrown in there at the beginning of the day,” she said.
The Board will next meet on Tuesday, April 8.
