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Red Bank Regional school board introduces $33M budget

The Red Bank Regional High School District Board of Education has introduced a $33.5 million budget that will fund the operation of the district during the 2021-22 school year.

Following a discussion among district administrators and board members, the budget was introduced on March 17. A public hearing is scheduled for April 28. The budget, which may be revised until that date, may be adopted by the board following the public hearing.

Residents of Red Bank, Little Silver and Shrewsbury Borough attend the high school, which is in Little Silver.

The budget for the upcoming school year will be supported by a tax levy of $26.8 million to be paid by residential and commercial property owners in Red Bank, Little Silver and Shrewsbury Borough.

Specific information about the tax impact of the 2021-22 budget on Red Bank, Little Silver and Shrewsbury Borough property owners is expected to be provided when the budget is considered for adoption by the board later this month.

The school district’s 2020-21 budget totaled $32 million and was supported by a tax levy of $26.2 million.

During 2020-21, Red Bank Regional received $1.24 million in state aid. For 2021-22, Red Bank Regional will receive $1.41 million in state aid, an increase of $169,072. The school district’s state aid has increased each year since the enactment of state legislation known as S-2 in 2018.

Red Bank Regional was initially scheduled to receive $1.3 million in state aid for the 2020-21 school year, but that amount was revised to $1.24 million because of the financial impact of the coronavirus pandemic on New Jersey.

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