Funding & Tax Impact

Project Costs

ECC Building Budget Summary

Funding Plan

When a School District issues debt, the loan is then paid each year from the District's Debt Service Fund. There are 2 funding sources to pay this debt; local tax levy and state debt service aid. Tax levy dollars are supported by the Lindenwold taxpayers and debt service aid is funded by the State of New Jersey. Currently our High School debt, which was originally issued at approximately $25 million, is paid off in June 2025. The new building debt will begin very close to the end of the current outstanding High School building debt so the local tax levy funds that are currently allocated to the High School debt will be repurposed to be used for the New Building debt.


The plan to fund the increase to the Debt Service payment will be to reduce the tax levy allocated to the General Fund and reallocate these tax dollars to the Debt Service Fund. An example of this reallocation is shown in the below chart.


If the State of NJ continues to increase state aid funds to the Lindenwold Public Schools, we will be able to build the New Building with no impact to the taxpayer.

Continued state aid increases are crucial to this plan.


BOND REFERENDUM INFORMATION

The vote has passed - follow this link for results:


The New Building Project will be voted on at a Bond Referendum on January 25, 2022. Polling locations will be open from 2:00pm-8:00pm. You should vote at your usual polling location, but if you are not sure of your location, you can use this LINK to locate.


VOTER REGISTRATION INFORMATION
You must be registered to vote in this election, by January 4, 2022, which is 21 days before the January 25, 2022 referendum date.

Information regarding VOTER REGISTRATION can be found at the State of New Jersey, Division of Elections website at https://nj.gov/state/elections/voter-registration.shtml
To register in New Jersey, you must be:

          1. A United States citizen

          2. At least 17 years old, though you may not vote until you have reached the age of 18

          3. A resident of the county for 30 days before the election

          4. A person not serving a sentence of incarceration as the result of a conviction of any indictable offense under the laws of this or another state or of the United States

          5. The registrant must complete a Voter Registration Application and/or Party Affiliation Form. Mail or deliver the Voter Registration Application and/or Party Affiliation Form to the County Commissioner of Registration or Superintendent of Elections for your county

VOTE BY MAIL

In New Jersey, any qualified and registered voter can now vote by Absentee Ballot for any election, for any reason. Don't feel like going to the polls? Simply vote by mail. Now there is "no excuse" not to vote! You do not have to be absent from the area on January 25th to vote by mail.

An online Vote By Mail Application is available for you to print and mail now at https://www.camdencounty.com/wp-content/uploads/2018/09/VBM-Application.pdf

The actual Vote By Mail Ballot will be mailed when available.