SUMMIT -The Agenda for the Summit BOE Special Meeting on 03/18/2026 Meeting mainly consists of the ’26-27 school budget along with a resolution tentative totals. The User Friendly budget was not part of the packet at the time of this article’s publication.
The numbers are as follows…
Total expenditures of $90,511,845
Anticipated revenues of $10,638,482
Capital Reserve Withdrawal of $850,000
Maintenance Reserve Withdrawal of $50,000
Health Benefit Adjustment of $2,227,161
Local tax levy of $79,873,363.
NJ21st emailed Superintendent Scott Hough asking whether the document could be provided so that the public can have more meaningful context in connection to these numbers before the meeting.
Districts are required to post the user-friendly budget within 48 hours after the public hearing on the budget.
Still, its absence makes it harder for the public to review the tentative budget practically before comment is taken and limits public visibility into the proposal before the hearing. Despite this we can use the top level numbers on the agenda to look at how it compares to last year’s user friendly budget (what the District said would happen 2025-2026), the ACFR (what actually happened in 2025-2026) and the numbers on the agenda for 2026-2027.
Summit Budget Document Bridge
2025-26 User-Friendly Budget → 2025 ACFR → 03/18/2026 Tentative Agenda
| Line | 2025-26 User-Friendly Budget | 2025 ACFR | 03/18/2026 Tentative Agenda |
|---|---|---|---|
| Local Tax Levy | $76,123,727 |
$73,233,933 Actual local tax levy |
$79,873,363 |
| Budgeted Fund Balance / Excess Surplus |
$2,483,724 Budgeted Fund Balance – Operating Budget |
$2,483,724 Prior year excess surplus included as anticipated revenue for FY2026 $2,500,000 Current year excess surplus designated for FY2027 |
Not listed |
| Capital Reserve Withdrawal | $100,000 |
$650,000 Budgeted withdrawal to capital outlay $628,000 Board-approved withdrawal to capital outlay |
$850,000 |
| Maintenance Reserve Withdrawal | $0 |
$550,000 Budgeted withdrawal |
$50,000 |
| Capital Reserve Balance (UFB est. 06/30/2026 vs. ACFR actual 06/30/2025) |
$3,749,660 Estimated balance 06/30/2026 |
$4,324,191 Actual ending balance 06/30/2025 |
Not listed |
| Maintenance Reserve Balance (UFB est. 06/30/2026 vs. ACFR actual 06/30/2025) |
$745,271 Estimated balance 06/30/2026 |
$1,218,565 Actual ending balance 06/30/2025 |
Not listed |
| Health Benefits Adjustment | Not separately highlighted | Not separately broken out | $2,227,161 |
We will update this story if and when the district provides the user-friendly budget.
We encourage readers to visit our section on the ACFR and our Understanding Your NJ Government Series prior to budget meetings as a way of becoming more informed of the budget process and what to look for.
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