A bond referendum is a vote in which a school district asks voters for permission to borrow funds through the sale of bonds. An approved referendum provides the district with state aid to reduce the amount of debt repaid through property taxes. Bond funding can only be used to finance large-scale building improvements, and can’t pay for day-to-day operations such as salaries, supplies and regular maintenance.  

Our district has decided to pursue a needs-based bond referendum to: 

• Generate upfront funding to address critical repairs and modern instructional needs for our school buildings, which are home to many community activities and programs. The cost of the projects would be spread over time, similar to the way a homeowner uses a home equity loan to make improvements. 

• Access a specific type of state aid available to offset the local share of project costs; this aid is only available to us following a voter-approved bond referendum.  

• Take a proactive, responsible approach to building needs, avoiding the risk of costly breakdowns at inopportune times.  

Our district prides itself on fiscal responsibility. Holding a bond referendum is a practical financial strategy to address a number of pressing needs at both Maywood Avenue School and Memorial School: Roofing is past its expected lifespan, the fire system is obsolete, and HVAC equipment is old and inefficient. At the same time, the district needs more instructional space to accommodate quickly growing enrollment.   

Our Board of Education, working closely with district administration, architects, and financial advisers, put together a thoughtful plan to best serve our students and community. Much of that careful planning included selecting projects that qualify for the most state aid – money only available to schools through a bond referendum. 

Maywood Public Schools has included projects in the March 14 bond referendum that would address health, safety, and capacity issues. The district proposes revamping the fire safety equipment, upgrading the HVAC systems, completing roof repairs, adding much-needed classroom space through a modular building at Memorial School, and modernizing the science lab at Maywood Avenue School.  

An approved vote would let the district finish all construction by the end of 2025. All proposed improvements are described in detail on our Projects page. 

Maywood Public Schools regularly maintains its buildings and equipment, but major systems such as roofs, fire alarm systems and HVAC units, are outdated and ready for upgrades.  

The district also has improved schools through responsible financial planning. The regular operating budget funded the renovation of a science lab classroom at Maywood Avenue School, as well as security enhancements at both buildings. The district replaced most classroom doors and installed security vestibules, a new camera system and panic buttons, and a Lockdown & Emergency Notification System (LENS).  

The community’s last major investment in Maywood schools 20 years ago supported the addition of full-day kindergarten and a new gym at Memorial School and the renovation of the Maywood Avenue School media center.  

For the past three years, enrollment has been trending upward, particularly among students in the Maywood Abilities Program. Students in this program have unique space requirements because they each work one-on-one with a staff member and receive services such as occupational and physical therapy.  

The number of students in special needs classrooms has increased from 57 in the 2020-21 school year to 82 in the 2022-23 school year. 

Adding space would keep students with special needs in their neighborhood schools and avoid the considerable tuition and transportation costs of sending students out of the district.  

As enrollment surged, Maywood Public Schools found creative space solutions such as adding partitions, using conference rooms as classrooms, and providing special-needs services on school stages. But classes in some grades are becoming crowded and scheduling issues prevent us from using staff as efficiently as we could. More space would give us the flexibility we need. 

Modular classrooms can accommodate a variety of uses and are a far more cost-effective option than adding onto a building. The additional space will help us reduce class sizes to provide students with more individualized attention, and will avoid the need to send students with special needs out of the district.  

Our building systems help keep things running smoothly for students and staff, as well as the community members who utilize the schools for athletics, activities and events. The current HVAC systems are outdated and inefficient. Updating our HVAC systems would improve air quality, heating and energy efficiency.  

The new HVAC equipment also would provide air conditioning that is now lacking. Comprehensive climate control would create a better learning environment year-round. It would also allow the community to use our schools for activities throughout the summer months. 

The current roofs at both schools are beyond their life expectancy. Emergency repair costs for temporary solutions can add up quickly and do not resolve the ongoing issues. 

The district can receive new warranties by fixing the flat roofs at both schools, and coating them after they are repaired.  

The modular classrooms are prefabricated structures that provide a versatile solution for our district’s space shortage. The classroom uses can change with the district’s needs. Modular space is far more cost-effective than a building addition, and is available in modern, attractive designs. For examples of modular classrooms, please see the photo gallery at the bottom of the Projects page.   

The district selected large-scale projects that address health, safety, and capacity issues and add to the longevity of our school buildings. This proposal also helps the district fund these projects in the most fiscally responsible way before “needs” become “musts” that require immediate attention without planning for a fiscal impact. A big part of that fiscally responsible approach included carefully structuring the proposal for the most state aid available to offset costs. The state sets aside a special type of aid to assist districts that fund capital improvements through bond borrowing.   

Compared to years ago, more students as well as staff and community members are acclimated to air-conditioned homes, and modern security concerns prevent propping open doors and windows to catch a breeze. High heat and humidity make it more difficult to focus mentally -- we all function better when we feel comfortable. Beyond that, people with asthma, allergies, or other conditions can be especially uncomfortable in rooms without climate control.  

Adding air conditioning to our schools would improve the HVAC efficiency in the whole building and also maximize our ability to use the space, for both educational purposes and community activities during the summer months.  

The New Jersey Department of Education has reviewed and approved the district’s bond referendum proposal for projects estimated to cost $22 million. This figure includes not just the work on the projects, but professional and permit fees to support it, as well as a cushion calculated by the district’s financial advisers to account for market fluctuations and contingencies. State aid would cover $6.2 million, or 28%, of the estimated cost to reduce the local share.   

State aid would keep the tax impact for new school debt under $28 per month for the owner of a home assessed at the borough average of $449,058.   

New Jersey offers a Senior Tax Freeze program for senior citizens and people with disabilities who meet certain income requirements.

Eligible applicants can receive a rebate if taxes increase. More information is available online by searching "NJ Senior Tax Freeze," visiting state.nj.us/treasury/taxation/ptr/ or calling the Senior Tax Freeze hotline at 1-800-882-6597. 

Seniors should also be able to find applications at a library or office that offers income tax forms. 

The market value is a home’s potential sale price, while assessed value – typically a significantly lower figure – is used to determine tax bills. You can find your home’s assessed value on your borough tax bill, or search your address in this tax assessment database.  

Tax revenue collected across New Jersey is earmarked to help public school districts pay for projects tied to educational needs. But the funds are only available to districts where voters approve a bond referendum. If voters approve Maywood Public Schools’ March 14 bond referendum, this special type of state funding would contribute 28% of the project costs. Without a voter-approved bond referendum, this funding is left on the table for other districts that pursue bond borrowing. Maywood Public Schools either “uses it or loses it.”  

Maywood Public Schools’ annual budget covers costs of day-to-day operations, salaries, supplies and regular maintenance, along with funding for our educational programs. The district has historically kept budgets lean out of financial responsibility to our taxpayers. By focusing only on necessary expenses and avoiding undue tax increases, we have not built up capital reserve funds to absorb added costs. Even if room could be found in the budget to cover the costs of some of the proposed projects, utilizing a bond referendum is a strategic approach that allows us to tap into state aid that otherwise wouldn’t be available to us.  

The district received a total of $1.5 million in federal funding for COVID relief. The money was earmarked to divide among several specific uses, including salaries and instructional software to address learning loss, custodial costs, and support for students’ mental health.  

Maywood was able to use $231,632 of the federal funds for air filters, personal protective equipment and temperature-checking stations. 

The amount received through the COVID relief funds did not come close to addressing the district’s needs for HVAC upgrades throughout both school buildings. 

The Board of Education determined that a bond referendum was the best strategy to finance the HVAC work that includes more efficient equipment, digital controls and the capability to add air conditioning. At $12.5 million, the HVAC upgrades make up the bulk of the referendum project costs. The district can access $4.2 million in state aid for the HVAC projects – more than a third of the cost – to offset taxpayers’ share of these improvements if voters approve the referendum.  

The proposal is not intended to add staff members, but to give existing staff the space they need to teach more effectively. Maywood teachers are sharing classrooms and serving students in converted spaces such as the multi-purpose room stage, a corner of the library, and administrative offices. Every workaround is being employed to support the increased enrollment, but Maywood schools are out of space. The modular classrooms would offer flexibility and adequate room to deliver instruction and services. More classrooms also would allow the smaller class sizes that the community values. 

Our district takes pride in providing a modern, high-caliber education that contributes to Maywood’s status as a desirable community. In fact, the proposed projects include expansion of STEM (Science, Technology, Engineering and Math) programming to help our students stay competitive with their peers. Cutting programs would run counter to our district’s goals. Even if we did explore eliminating programs, the savings would not come close to meeting any of our buildings’ current needs. For perspective, our annual operating budget is $21 million, and the proposed referendum projects total $22 million. A referendum is a strategic way to complete major improvements by 2025 but spread project costs over time, and to receive $6.2 million in state aid that is not otherwise available.  

Maywood Public Schools continuously seeks cost savings for the district and community. As the referendum approaches, the district has asked an outside company to review its PSE&G bills for possible savings opportunities. If the referendum passes, the district will benefit from more efficient HVAC equipment and digital controls. Air-conditioned buildings also would let the district raise revenue by capitalizing on interest in summer rental space.  

Without an approved referendum, the district will still face the same urgent building needs but will have to address them without $6.2 million in state aid. 

All costs for repairs and improvements would have to be covered through the operating budget and future local property taxes that contribute to our district’s general fund. 

The Board is not permitted to spend one dollar more on the projects (no matter the source of funds) without obtaining additional voter approval. The Board is only allowed to spend money on the projects approved by the voters. If the projects are complete and there are remaining bond proceeds, that money has to be used to pay back the principal as soon as possible.  

The district cannot spend more than the amount of money voters authorize in a bond referendum. With the help of financial consultants and its architect, Maywood has thoroughly researched the proposed projects and their associated costs and has included a contingency amount in the estimated total. That cushion takes into account current spikes in materials costs, gas prices and interest rates. If actual costs exceed what voters approved, plans will have to be adjusted to fit the budget.  

The district consistently seeks opportunities to save on operational costs. Maywood previously replaced its boilers through the state’s Energy Savings Improvement Program, which allows school districts to finance improvements through future energy savings. The boilers include individual controls for each space for increased efficiency. The proposed HVAC upgrades would feature digital controls that provide a similar opportunity for energy efficiency.  

The district is able to raise revenue by renting its school buildings year-round to organizations and businesses, but the lack of air conditioning limits that potential. HVAC upgrades would ensure buildings are far more comfortable for students – who also attend summer programs at the district’s schools – as well as any groups that use them.  

Additional space also would spare Maywood from the high tuition and transportation costs of sending students with special needs to surrounding districts for services. 

The district will sell bonds through a competitive bidding process once it has voter permission and will know the interest rate at that time. However, Maywood Public Schools works with advisers who closely watch the bond market to determine an appropriate estimate of total costs. Those advisers have built a cushion into the figures to accommodate some fluctuation in the bond market. 

Also, the district could secure a lower interest rate down the road: Maywood is able to refinance its bond loan, just as a homeowner could refinance a mortgage for a more favorable rate. 

Maywood Public Schools has consulted with financial advisers who made conservative estimates on the interest rates that would be available following an approved referendum. That strategy ensures enough of a range to cover potential increases.  

If rates turn out to be lower than estimates, the cost of borrowing would be slightly lower and, therefore, so would the amount to be repaid.

All registered voters in the Borough of Maywood can participate in the Tuesday, March 14, bond referendum. If you are not registered to vote, or need to update your name or address on your registration, you must do so by Tuesday, Feb. 21. If you registered for another election (such as president or governor), and your name and address have not changed, your registration would be valid for this referendum. Check your voter registration status to be sure.   

Polls will be open from 2 p.m. to 8 p.m. on Tuesday, March 14, at Memorial School and Maywood Senior Center. If you do not know which location is your designated polling place, enter your address in New Jersey’s Polling Place Search tool. 

Voting by mail is available for the bond referendum. If you have voted by mail before, you may automatically receive a ballot in the mail. Look for that ballot a few weeks ahead of the March 14 vote. To request a Vote By Mail ballot, download the application here. It must be marked and either hand-delivered before 8 p.m. to the Board of Elections or postmarked by the U.S. Postal System by March 14. 

Voters also may apply for a Vote By Mail ballot at the County Clerk’s Office at One Bergen County Plaza in Hackensack anytime up until 3 p.m. on the day before the election. Ballots issued over the counter can then be taken directly to the County Clerk’s office in the same building or placed in the secure drop box located outside the building. Vote By Mail ballots cannot be turned in at a polling place. 

Learn even more on our detailed Voter Information page. 

Voters will be asked for permission to borrow $22 million. Even though state aid will reduce that amount, the school district would be named as the debt-holder so voter approval is needed for the full amount.  

Please click here to view the sample ballot for March 14.