SDS No. 1 - (3.25.25).pdf

Page 3 of 5 COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS UNDER PROVISIONS OF N.J.S.A. 18A: 24-17 N.J.S.A. 18A:24-19 (Lines 1 to 7) 1 Average of equalized valuations (page 1, line 3) $7,706,348,202.33 2 Gross School District Debt outstanding and authorized but not issued (not including proposed issue) $ 3 Less: Sinking funds held for payment of School Debt, by Sinking Fund Commission $ 4 Net debt for school purposes (line 2, minus line 3) $0.00 5 Debt deduction for school purposes’ % (as per line below) % $ (a) 2½% Kindergarten or Grade 1 through Grade 6 (b) 3 % Kindergarten or Grade 1 through Grade 8 (c) 3½% Kindergarten or Grade 1 through Grade 9 (d) 4 % Kindergarten or Grade 1 through Grade 12 6 Available debt deduction (excess, if any, of line 5 over line 4) $0.00 7 School Bonds about to be authorized $ Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7. or if shown on line 17 N.J.S.A. 18A:24-22 (Lines 8 to 13) 8 Excess of line 7 over line 6 $0.00 9 Municipal Debt Limit (3½% of line 1 above) $269,722,187.08 10 Net Debt $166,479,101.96 11 Available Municipal Borrowing Margin (excess, if any, of line 9 over line 10) $103,243,085.12 12 Use of Municipal Borrowing Margin (line 8 not exceeding line 11) $0.00 13 Remaining Municipal Borrowing Margin after authorization of proposed School Bonds (line 11 minus line 12) $103,243,085.12 Note: Omit lines 14 to 16, if line 11 equals or exceeds line 8, or if shown on line 17 N.J.S.A. 18A:24-24 (lines 14 to 16) 14 Amount of line 7 $ 15 Amount of Deduction: (a) Amount of line 6 $0.00 (b) Amount of line 11 $103,243,085.12 Total $103,243,085.12 16 Excess of line 14 over line 15 $0.00