Page 14 THE VILLADOM TIMES III • April 3, 2013 Saddle River The Saddle River Board of Education’s 2013-14 school budget includes an average tax increase of approximately $84. The $8,719,616 budget will bring the school tax bill to $5,741 for the owner of a property assessed at the borough’s average value of $1.7 million. School budget includes tax rate of 33 cents SRV Residents Club to host April events The local tax levy to support this budget is $7,508,850. Additional sources of local revenues include $110,500 in tuition, $12,400 in unrestricted miscellaneous revenues, and $1,500 in interest earned on capital reserve funds. State revenues include $66,671 in categorical transportation aid, $93,107 in extraordinary aid, $104,971 in categorical special education aid, and $30,383 in categorical security aid. Federal revenues include $132,000 for I.D.E.A Part B, a program for individuals with disabilities. The budget includes $1,601,697 for regular program instruction, $128,377 for special education instruction, and $477,899 for student transportation services. The spending plan also includes $1,102,749 for employee benefits, and $85,875 for support services – general administration. In a telephone interview last week, School Business Administrator Fred Palumbo told Villadom TIMES that, The Saddle River Valley Residents Club will host a variety of events during April. The Out to Lunch group has planned a gathering for Friday, April 12. A Gracie Mansion Tea Tour will be held April 17. The club will host a social on Tuesday, April 23 in the Upper Saddle River Library’s Adult Solarium at 245 Lake Street. Club members are invited to drop in anytime between 10 a.m. and noon. On April 27, the membership will host its Spring into Summer Ball. The event will be held at the Brownstone in Paterson. Members may check the monthly newsletter for more information. The next Sociable Supper is planned for Saturday, May 18. Other activities sponsored by the organization, which was previously known as the Saddle River Valley Newcomers Club, include a book club, golf, international luncheons, and more. For more information, or to attend an event, email president@srvrc.org. since he began working in the district approximately 12 years ago, the tax rate associated with the school budgets has had a “history of stability.” He pointed out that, when he began working in Saddle River, the school tax rate was 30 cents per $100 of assessed valuation. That rate is now 33 cents, he said. No public vote will be taken on this budget, as the increase to the operating budget falls under the state-mandated cap, which is currently two percent. Last year, the state allowed districts that chose to move their school board elections from spring to the date of the November general election to forego the public vote on the school budget as long as the spending plan falls below the prescribed cap. The school tax is one component of the overall property tax rate, which also includes taxes to support the municipal and county budgets.