Edison BOE passes school budget for 2024-25. Here's what's included

EDISON – The Board of Education has unanimously approved a $367 million budget for the 2024-25 school year which includes no tax increase for the fourth consecutive year.

The school tax rate will decrease about $11 over the calendar year, school officials said.

The average assessed home value in Edison this year is $183,400, which is up about $1,000 from 2023.

Board President Biral Patel said the achievement of no tax increase is a testament to the district's commitment to financial responsibility.

Patel and other school officials cited an increase in state aid as a major factor in helping the district achieve the financial milestone.

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Business Administrator Jonathan Toth said the district received $97 million in state aid this year, which is $20 million more than last year. Of the $97 million, Toth said about $20 million will be used for capital outlay along with some additional reserve funds, and the rest of the state aid will be used to fund operating costs.

The state aid and budget funds will help finance various capital improvements projects including $30 million for building renovations and additions throughout the district.

Toth said the budget also includes increases for a new teachers contract and health care. He added each principal's budget has been increased to allocate funds for new co-curricular programs or things they want to do in their buildings.

School officials said the budget is a financial representation of what the district values and what's important is student achievement, staff wellbeing, student safety, financial responsibility while growing programs and addressing needs such as overcrowding, infrastructure and technology.

Suzanne Russell is a breaking news reporter for MyCentralJersey.com covering crime, courts and other mayhem. To get unlimited access, please subscribe or activate your digital account today.

This article originally appeared on MyCentralJersey.com: Edison NJ BOE passes school budget for 2024-25. Here's what's included