1. Budget Development Time Line September 2011Budget data collection begins December 2011 – March 1, 2012 CSA, BA, & BOE Finance Committee develops budget based on 2% CAP February 21, 2012Governor Budget Address to NJ Legislature February 23, 2012State Aid Figures Released March 6, 2012BOE approves tentative budget March 27, 2012Formal hearing on 2012-2013 budget

2. …Highly Efficient Per Pupil Spending: Of 27 K-8 Districts in Bergen, River Vale has the 7 th lowest per pupil cost! Administrative Costs: River Vale is below regional administrative costs ($1,944 vs. $1,945) Cost Efficiencies/Sharing Services: The River Vale Public School District is a leader in the area of shared services by participating: –with other local public school districts for Special Education services, transportation, staff development and training, etc.; –in a cooperative gas purchasing program through the Township of River Vale; –in a lease with the Township to have all district fields maintained by the Township; –in Bergen County Banking Consortium to secure favorable interest rates; –in Northeast School Board Insurance Group to secure best rates. (See the district website for additional shared services) Certificate of Excellence in Financial Reporting: Nine consecutive years!

3. Facility and Technology Upgrades 2011-2012 Holdrum Middle School Repaired 140 screens Painted ceilings and walls in room 76 and 78 New clock system installed Principal’s office painted Roberge Annex New shingled roof Renovated three second floor bathrooms making them accessible for the disabled Renovated Board Conference Room Roberge Elementary School New gym roof and relocation of unsightly duct work New clock system installed Repaired 121 screens

4. Facility and Technology Upgrades 2011-2012 con’t Woodside Elementary School Relocated two preschool program classrooms from Roberge Annex Replaced 135 screens Installed new clock system Painted approximately 2/3 of hallways

5. Resolved, that there should be raised for General fund $19,291,931 for the 2012-2013 school year.

6. Budgeted Revenue 2011-20122012-2013 Budgeted Fund Balance255,377253,341 General Local Tax Levy18,917,36719,291,931 Tuition20,000 Miscellaneous89,913114,900 Jobs Ed Funding21,4950 State Aid (*)186,101440,455 Federal Grants286,311287,375 Debt Service Local Tax Levy964,550966,850 TOTAL20,741,11421,374,852 *SDA Debt Assessment $50,531

7. Advertised Appropriations BUDGET CATEGORY 2011-12 BUDGET 2012-13 PROPOSED BUDGET % INC/(DEC) Instruction$8,660,424$8,718,7661% Co-Curricular/Athletic Activities $ 100,002$ 103,9614% Special Education Tuition.$ 910,763$1,005,46710% Support Services$1,886,197$2,300,03222% Administration$5,369,312$5,376,0160% Operations and Maintenance of Plant $1,915,456$1,902,174-1%

8. Advertised Appropriations (Continued) BUDGET CATEGORY 2011-12 BUDGET 2012-13 PROPOSED BUDGET % INC/(DEC) Student Transportation$ 534,280$ 532,6800% Capital Outlay (*)$ 113,819$ 181,53159% Special Revenue$ 286,311$ 287,3750% Debt Services$ 964,550$ 966,8500% GRAND TOTAL$20,741,852$21,374,8523.06% * Includes mandated SDA Assessment of $50,531 in 2012-2013

9. Tax Levy Increase General Fund Tax Levy increased $374,564 or 1.83 % over previous Tax Levy $0.74/day$22.52/month$102.76/year TAX IMPACT