Oceanside gets extra state aid

Oceanside received more state aid than anticipated after it finalized its $147.2 million budget for 2016-17.

While the tax levy will increase by about $500,000, next year’s spending plan will be $2.8 million larger than the current year’s $144.4 million, thanks mostly to the state aid windfall. While the district finalized its budget at its March 29 Board of Education meeting, the state did not ratify its budget until April 1.

Oceanside school officials planned for $21.1 million in state aid, but the district will receive almost $22 million, including a restoration of funds appropriated through the Gap Elimination Adjustment. In 2009-10, the state began taking away school aid to fill budget holes. This year, the state has eliminated the GEA.

Chris Van Cott, Oceanside’s assistant superintendent for business, said that the additional money in the budget would be used to rebuild the district’s reserve funds. “When we talk about the components of the fund balance, some of the reserve funds have been utilized over the years, which has brought down the fund balance,” he said. “But that was by design, too … The district has utilized its reserve funds exactly as they were intended to be used, in difficult economic times … and now it’s time to build those fund balances back up.”

For the second year in a row, the district landed on the state comptroller’s susceptible-to-fiscal-stress list due to its use of reserve funds. As a result, Oceanside’s rating by Moody’s Investors Service fell from Aa2 to Aa3, which impacted the district’s interest rates for bonds.

Noting a budgetary — and extracurricular — highlight for next year, Superintendent Phyllis Harrington confirmed that the district would have a boys’ swim team for grades 7 through 12. The team will swim in the spring at the Friedberg JCC pool, and the JCC will charge the district $5,000 for three practices per week and meets on Saturdays. “I will tell you from a budget perspective, [Jeff] Risener has done a great job of being sure that we were able to support a coach and supplies for the swim team,” Harrington said, referring to the district’s director of phys. ed., health and interscholastic athletics. “He countered that with some reductions in other aspects of his budget. The $5,000 was not initially budgeted for, but we are very comfortable that we can absorb that within our operating budget.”

She added that the team would depend on continued access to the Friedberg JCC, because it is the closest local pool.

The district’s entire budget can be found at http://bit.ly/1MHbJPm.

The next Board of Education meeting is scheduled for April 12, at 7:30 p.m., at School No. 8. A budget hearing will be held on May 10, at 7:30 p.m. at School No. 9E.

Residents will vote on the budget on May 17.