PARSIPPANY — The Board of Education of Parsippany-Troy Hills is providing this information to add much-needed clarity to the press release issued by the Township of Parsippany-Troy Hills on March 15, 2024, titled “Parsippany Schools Receive Significant Boost in Funding from New Jersey State Budget,” which was covered by Parsippany Focus on March 16, 2024. It would have been helpful to the residents of Parsippany if the Mayor’s Office or Parsippany Focus had reached out to the Board of Education to provide a more complete and balanced analysis. As published, that press release is a decidedly one-sided version with only a fleeting embrace of reality.
While the increase of approximately $1.4MM is most welcome, this increase represents less than 1% of the total proposed school budget for 2024-2025 of over $182MM. It is one small piece of a large puzzle. The increase will help to make up for the shortfall that comes with the structural ceiling of the state’s 2% increase limitation on the school’s tax levy, increased costs due to inflation, and the loss of revenue that will inevitably result from the PILOT projects. The $1.4MM increase from the state is far less than the loss of annual tax revenue from even one of the approved PILOT projects recently pushed by the Mayor and Town Council. The unfunded burdens caused by PILOT projects will negatively impact the school district for the next thirty years. It is also worth noting that State and Federal Grants, which are distinct from Federal and State Aid, are $600K lower than last year.
The Township’s statement touts a “substantial increase,” and emphasizes the 13.95% rise from the previous year’s allocation to create a false narrative that surplus funds now exist in the upcoming school budget. However, that 13.95% increase in state funding equates to less than 1% of the school district’s anticipated overall budget for the 2024-2025 school year, a fact Mayor Barberio acknowledged in the last Town Council Meeting. That acknowledgment was missing in the town’s press release.
While any increase in funding is appreciated, it is important for Parsippany taxpayers to have a comprehensive understanding of the realities facing the Parsippany school district. An objective analysis ensures that residents are well-informed about the complexities of education funding in our community. The Parsippany Board of Education has extended numerous unaccepted invitations to the Mayor to discuss items that would be beneficial for our residents. These items include the increase to class size as a result of residential developments, and the negative effects on school programs resulting from the readjustment in the tax base because of PILOT projects. The Parsippany-Troy Hills School District remains open to meaningful discussions with the Township.
Editors Note: Parsippany Focus does not edit or comment on press releases, we just merely publish the supplied information.
