FAQs

A bond referendum is a voting process in which a public school district seeks permission from the public to borrow funds through the sale of bonds. A bond is like a loan to the district that finances large-scale improvements by spreading payments over time, similar to the way a consumer uses a mortgage to pay for a home. One key reason school districts rely on this funding tool is that it makes the district eligible for a special kind of state aid to offset the local cost of the projects.

Montvale Public Schools takes pride in its long-standing commitment to fiscal responsibility, and over the years has invested in safety and security, technology, facility maintenance, and more. A professional review of facilities and input from the community during the 2019 strategic planning process made it clear that additional improvements would be needed to keep class sizes small and to create facilities that meet future education needs.

These projects cost more than what the district’s annual operating budget can fund in a timely manner, but that is not the only reason bond borrowing is part of the district’s fiscal strategy. Funding these improvements through the bond referendum process offers the advantage of additional state aid and spreads the repayments over time.

A school district’s annual operating budget pays for day-to-day school operations, including salaries, supplies, equipment, and routine maintenance, while a Capital Reserve account is used for non-daily needs in the district. By New Jersey state law, the operating budget cannot rise more than 2% each year without specific voter approval.

Bond funding is different from both the operating budget and capital reserves. For certain types of larger projects, school districts can ask voter approval to sell bonds to generate funding. Voter-approved projects qualify for state aid of up to 40% of the project costs. That allows the district to use funds collected from across the state instead of relying on the operating budget or Capital Reserve account, which are funded by local taxes.

The district strategically funds facility maintenance and improvements through careful financial planning. The District maintains a Capital Reserve and a Maintenance Reserve. These funds have been used for a variety of projects including roof replacements, milling and paving of the school paths and parking lots, and a variety of interior renovations. The District also participates in state and federal grant opportunities when they are available.

The district’s goal is to continually invest in repairs and renovations, and to keep the tax rate level to do that. The district recently paid off debt that built the Memorial kindergarten wing and gym and was planning a 2020 bond referendum to seamlessly continue the tax rate, but the pandemic pushed that to the back burner as the district focused on safe school operations and the economy was stressed across the nation.

With the return of normal operations, the district is now prepared to move forward with a referendum that would provide the funding for much-needed renovations.

At Memorial, voter approval would provide funding to build five new classrooms in an addition that would connect the Kindergarten and 1st/2nd Grade Classroom Wings. It would also renovate the Memorial Stage into a state-of-the-art STEAM Lab. The proposal also calls for additional parking spots at Memorial, a daily need for staff, parents and visitors.

If approved, both schools would benefit from renovated restrooms, upgraded security and fire safety systems, boiler replacements, new energy-efficient HVAC systems, and new unit ventilators.

At Fieldstone, the projected increase in enrollment can be served without building new classrooms. Voter approval would provide funding to renovate existing space, such as converting the industrial arts classroom into art and music classrooms situated with other expressive arts. Industrial arts would evolve into the new STEAM Lab in the Media Center that would become the interactive hub of the school. The Media Center would still encourage a love of reading, but it would also accommodate a broad range of interactivity. The entrance would be redesigned to include an ADA-compliant ramp. This thoughtful re-purposing of current space will meet current and future needs.

A stand-alone restroom facility would be built adjacent to the athletic fields at Fieldstone. Currently, athletes and spectators use a port-a-potty. If approved, both schools would benefit from renovated restrooms, upgraded security and fire safety systems, boiler replacements, new energy-efficient HVAC systems, and new unit ventilators.

STEAM stands for science, technology, engineering, art, and math -- and is a key component of the comprehensive educational program in Montvale Public Schools. Interdisciplinary collaboration across these areas helps develop a well-rounded child who can apply problem solving, critical thinking, and innovation to thrive in the 21st century.

STEAM Labs are proposed for both Fieldstone Middle School and Memorial Elementary School. This type of space is becoming more common in elementary schools. STEAM Labs typically feature flexible furniture that can be moved and reconfigured for various modes of instruction; organized but easily accessible storage for tools and gadgets; and extra space for students to work in groups. They are usually outfitted with advanced technology for student creation, collaboration, and presentation.

In 2019, the school district collaborated with the community to create a strategic plan and to conduct a professional review of its facilities. The strategic plan reaffirmed the community’s support for small class sizes and desire to see upgraded facilities, and helped the district prioritize the most urgent capital improvements and strategize how to pay for them.

The initial project list totaled about $45 million. It was cut to $37.8 million in the application submitted to and approved by the state Department of Education. Considering the impact on taxpayers, the Board of Education pared the plan to $29.4 million for the Dec. 14 bond referendum, and will look for other times and ways to address projects that didn’t make the cut.

Boilers do the important job of generating heat, and in some cases have never been replaced since Fieldstone Middle School was built in 1966. It is increasingly difficult for the old, inefficient boilers to do their job.

Large Heating, Ventilation, and Air Conditioning (HVAC) systems draw air in, filter it, and move it through the buildings. New, energy-efficient HVAC systems would bring air conditioning to the areas that don’t have it now, or where current window units, donated by the PTO, reach the end of their life cycles. This is especially important to creating a healthier learning and working environment for children and staff, especially those who have asthma and/or seasonal allergies.

Smaller unit ventilators bring fresh air into classrooms and heat or cool it as necessary. The proposal calls for replacing unit ventilators to more efficient systems, especially ones that would accept MERV 13 filters that are the modern recommendation for schools. The pandemic has proven the value of advanced air filtration for health and wellbeing.

The proposal would fund security upgrades at both schools, including replacing classroom doors and locksets that are mostly original to the buildings with more secure and uniform systems. It also calls for upgrading the fire alarm systems with more modern technology. The existing fire alarm systems in both schools, while updated over the years, have many components that are now obsolete and the alarm panel boards can no longer accept upgrades. Another safety element is proposed at Fieldstone, where a remodeled Media Center entrance would provide direct access to areas of the school that are used for special events. The public could enter there instead of walking through the school from the main entrance.

Currently, a port-a-potty parked near the athletic fields at Fieldstone offers the only relief for athletes and spectators. Opening the building to these needs would not only involve a bit of a walk, but also present a security risk. The district has continually heard requests for an improvement to this situation, as those fields are heavily used by the school and community. The bond proposal includes a stand-alone restroom facility to be built adjacent to the fields.

A resident considering selling a home in the next 5-8 years can consider the cost of the proposed improvements as an investment toward a higher selling price and/or easier selling process. At $325 per year, that investment would be an estimated $1,625 to $2,600. It would be a fraction of the value of a speedy, profitable sale.

Montvale’s student population is projected to rise as properties are developed for homes. A 2019 demographic study estimated another 100+ students could enroll over the five-year timespan that we are in the middle of. By 2023-24, the district is projected to grow from current enrollment of about 940 to 1,090 students. However, we can't rely on the actual student count to spread as evenly as a mathematic average. We want to allow flexibility for growth, even if it arrives as “bubbles” impacting a few grades with larger class sizes. We want to plan now so that we’re ready in the three years it will take to turn the proposal on paper into actual instructional space. Between new classrooms at Memorial and re-purposed space at Fieldstone, Montvale would be prepared for the future.

After Montvale received state Department of Education approval in August and consulted with financial advisors, the Board of Education felt the tax impact of the approved amount was too high. Therefore, the Board decided to refine and reduce the proposed project list. This process was not complete by the Sept. 2 deadline to add the referendum to the Nov. 2 General Election ballot.

The total cost of the proposed projects is estimated at $29,414,000. That includes not only actual construction and renovation work, but professional and permit fees. It also includes a contingency in case the estimates don’t accurately predict the future. If voters approve bond borrowing, state aid would reduce the cost on local tax bills by an estimated $7,158,184.

A home assessed at Montvale’s average of $524,788 could expect to pay $325 per year. The school district recently finished paying off debt that voters approved 20 years ago to build the Memorial kindergarten wing and gym. For the average home, the annual payment on that debt had gradually declined to about $100 until it was paid off in 2021. This proposal asks voters for a new investment to meet the evolving needs of the Montvale students and community.

An assessed value of a home allows local government to determine how much property tax a homeowner will pay, while market value is an estimate of how much a home could sell for in today’s market. These two numbers are often very different, with the latter usually being much higher. Assessed value is what is used to calculate property taxes.

Mathematically, the average home assessment in Montvale is $524,788 and is included on a homeowner’s property tax bill. Homeowners received postcards with this information in late September/early October. You can determine your home’s assessed value by using this website to search for your property.

If voters approve the referendum on Dec. 14, 2021, Montvale residents could expect to see the change reflected on their property tax bills in 2023.

New Jersey law requires school districts to ask voters before issuing bonds for specific types of capital improvements. A district that receives approval through a bond referendum is eligible for additional state aid, which is collected from taxpayers statewide but is earmarked only for these districts with voter-approved borrowing. This helps reduce the local tax burden and returns some tax revenue paid by Montvale citizens back to Montvale. That state aid also makes the projects more affordable than if they were funded from the annual operating budget.

State aid for this proposal is estimated at $7,158,184. If approved by voters, the New Jersey Department of Education has committed to paying that amount annually over the length of the pay-back period.

Montvale is growing with new residential properties that are expected to be occupied in the next two to three years. On one hand, this will bring new tax revenue to the borough and would spread the cost of proposed projects across more households. However, without proper planning for the future, this greater demand on the schools would increase class sizes. We are preparing now for this expected influx by proposing bond-funded projects that would build additional classrooms and create modern spaces for students. Construction takes time, though, so even if the bond referendum is approved, classrooms at Memorial and renovations at Fieldstone would not be completed until fall 2024. The district is taking a strategic approach to time project renovations with the growing needs of Montvale. Ideally, the two will coincide to give us the spaces our growing student body needs, at the same time as more tax-paying homes are occupied.

The New Jersey Senior Tax Freeze program is offered to eligible residents who are senior citizens or have a disability that prevents them from working. It reimburses them for property taxes increases on their home. Visit this state website to learn more and determine eligibility.

Parents send both their children and their property taxes to Montvale schools, but even residents without enrolled students would benefit from the proposed improvements. An ADA entrance at Fieldstone and a stand-alone restroom facility at its athletic fields have benefits for people who visit our schools for events.

From a financial perspective, replacing aging equipment with more efficient systems is better for the annual budget that is fueled by everyone’s property taxes. Getting state aid to share the cost is another budget bonus, but that only happens with a voter-approved bond referendum.

In addition, the quality of the community, as well as the ability to swiftly and profitably sell property, is strongly tied to the quality of its schools. Modernized Montvale schools can stand out among communities that compete for future home-buyers who will pay taxes for years to come.

A series of estimates are used to make the bottom-line projections of the project costs and tax impact. Those estimates are generally conservative so that any surprises are welcome ones, i.e., lower than expected. For instance, the project costs already include a contingency in case the estimates don’t accurately predict the future of supplies or labor. The interest rate of the bonds is estimated slightly on the low side, pending what those bonds sell for when advertised for competitive bidding. In Montvale’s case, the estimates do not include any increase in “ratables,” the future development of properties that are expected to contribute to the property tax base. A conservative approach protects the interests of voters and taxpayers, adding a layer of assurance that even with “unknowns,” the work that voters may approve can be done within the impact that taxpayers were told.

The district cannot spend voter-approved funds on anything except the projects outlined in the bond referendum. If actual costs for the projects are lower than estimated, the money is used to reduce the debt, and therefore, reduce taxes. The district cannot spend more than the amount the voters authorized in the bond referendum, and cannot spend the money on anything except the projects outlined in the proposal.

While the district has thoroughly researched the project costs, a contingency is built into the price tag in case the estimates don’t accurately predict the future. The district cannot spend more than the amount the voters authorized in the bond referendum, and cannot spend the money on anything except the projects outlined in the proposal.

If voters approve the referendum on Dec. 14, the stages of specific work would be determined by a combination of factors including availability of supplies, cost efficiency and school schedule. Contractors would use summertime for major work to avoid disrupting classes.

The first set of projects -- fire alarm systems and classroom doors and locks -- would begin in the summer and be completed by fall 2022. The projected next step would be to break ground for the Fieldstone outdoor restroom facility. Its progress and completion date would depend on the weather of winter months. Work to upgrade the heating system would have to wait until the current systems are no longer needed. It can start in spring 2023 and be complete before cold weather returns that winter.

Most time-consuming would be the classroom additions at Memorial and the renovations at Fieldstone, all of which would require several phases between design and completion. The target is for the Memorial classrooms and Fieldstone renovations to be complete by fall 2024.

Additional renovation projects, including restrooms, would be complete around fall 2025.

Voters approved a bond in 2001 to build the kindergarten wing, gym and community entrance at Memorial Elementary School, as well as new science labs and classrooms, and an elevator at Fieldstone. Over the past two decades, thousands of Montvale children have benefitted from that community decision to invest in the schools. Property taxes for the bond gradually waned until it was paid off in 2021, resulting in a decrease of $100 a year for a home assessed at Montvale’s average ($524,788).

The district is nearing the payoff point for another, smaller bond that voters approved in 2006, for $2,371,000. This bond funded projects including new lockers, windows, and bleachers at Fieldstone, as well as sink and tile replacements at Memorial. A home assessed at the average contributes about $30 per year to pay that off; the payments will be completed in 2026.

Bond-funded debt spreads the costs of continual improvement across all homeowners, even as some residents come and go. Voter approval of a bond referendum for school upgrades in 2021 would benefit students and the community for years to come, just as it did when voters approved referenda in 2001 and 2006.

Yes, you can vote and have your voice heard on the future of the schools! Anyone who registered to vote with a Montvale address can participate in the Dec. 14 bond referendum. New Jersey’s election procedures give voters the choice to either vote by mail or in person. If you are unsure whether you are registered to vote at your current address, search the state database.

In-person voting is expected to be available for the Montvale Public Schools vote on Tuesday, Dec. 14. Polls will be open at the following locations from 6 am - 8 pm:

Voting Districts #1, 2, 3 - Senior Community Center, One Memorial Drive

Voting District #4 - Montvale Municipal Complex, 12 Mercedes Drive, 2nd Floor, Council Chambers

Voting By Mail has become a popular method for casting a ballot. It allows voters to avoid lines at the polls, the risk of inclement weather, and other inconveniences that can get in the way on referendum day.

On Nov. 15, the county sent Vote By Mail ballots to Montvale residents who have active requests to vote that way. If you expected one but did not get it, check your status by contacting the Bergen County Clerk’s office at 201-336-7020 or electionsclerk@co.bergen.us. Residents who are not signed up for Vote By Mail, but wish to be, can apply without specifying a reason by submitting an application. Make that request as soon as possible to safeguard against postal delays.

To have a ballot mailed to you for this bond referendum, the application must be RECEIVED by the county clerk’s office by Tuesday, Dec. 7.

Ballots submitted by mail must be postmarked by Tuesday, Dec. 14 or brought to the county clerk's office on referendum day. They cannot be hand-delivered to a polling place. Remember to read the ballot closely and follow all instructions in order to make certain your vote is properly cast. A voter can track his/her mailed ballots online by creating an account with the state's Voter Registration System.

If you arrive at a polling location on referendum day and are told your ballot was mailed to you, or you are turned away for any reason, ask for a provisional ballot. This allows your vote to be counted once the mailed ballots are processed and your voter eligibility is double-checked.

You can easily update your voter registration so you can vote in the Montvale Public Schools bond referendum and future local and national elections. Visit the New Jersey Voter Information Portal to fill out your voter registration form online. If you prefer to send a paper registration form, the Bergen County versions are available here in English, Spanish and Korean. To vote on Dec. 14, your registration must be up to date by Tuesday, Nov. 23.