According to reports in the Hammonton News, Board of Education President Lorretta Rehmann has stated that the roughly 7.8 cent cost of the bond referendum which will be voted on Tuesday, 12/9, will be offset by savings in the regular budget.
The news story states:
The financial impact of the referendum can be worked into the district's 2009-2010 operating budget without a tax increase, Board of Education President Loretta Rehmann said.
"The board is working to keep taxes at the present level, including the tax for this project," Rehmann said. "Of course, (the renovations) come with cost. But we believe we can fold this cost into our present budget, keep the budget stable, and when mortgage payments come due, use a combination of state aid and cost-cutting to offset the additional tax.
"The board would use retiring debt and other responsible financing to create a zero tax impact in the next budget year," Rehmann said.
This seems to answer concerns raised by Gazette editor Gina Rullo in an open letter printed in this week's edition.
Times are certainly tough for all residents of Hammonton, but if the Board can follow through with this promise and the net result is no tax increase for the taxpayers, it seems like the children win and so do the residents.
