School taxes will be going up in Ridley, board says
RIDLEY TOWNSHIP » The proposed final 2018-2019 Ridley School District budget of $107,552,000 approved by the school board at its May meeting, shows a real estate millage rate increase of .830, bringing the total millage rate to 40.73 mills, or $4,070 for a house assessed at the district average of $100,000. That’s an $84 increase for a home with that assessment.
Last January the school directors approved a resolution in accordance with state Act 1 regulations that indicated the district would not seek exceptions to the Act 1 limits. It was determined at that time that the district would stay within the eligible adjusted Act. 1 Index of 3.1 percent.
“We did not take exceptions (because) we were pretty sure we could bring in a budget under the Act 1 index,” district Superintendent Lee Ann Wentzel said.
Act 1 states that school districts will not increase local property taxes in excess of the Act 1 Index set by the state Department of Education each year
unless a district is eligible for exceptions under the act that would allow the district to exceed the index. Wentzel said the district would have been eligible for exceptions for both retirement and special education expenditures.
The proposed final budget for the next school year shows an increase in expenses over the current year’s budget of $3,158,251. The revenue side of the upcoming budget shows an increase of $3,890,203 in the district’s total taxable assessed value. Wentzel said other local revenue increase factors include an increase in interest earnings due to changing investment rates and a decrease of 2.72 percent in debt service. Additional revenue streams will continue through the annual technology fee for families and the resale/recycle collections generated in the district’s technology plan.
“As indicated in the board reports, we continue to aggressively apply for alternative funding streams through grant opportunities,” Wentzel said in her budget presentation at the school board meeting. “We are pleased to report that our efforts are having positive results. We are seeking additional large sum grants for the 2018-2019 school year.”
Factors causing increase costs in the upcoming school year include more than $1 million in additional pension costs due to the increasing employer share, adding four staff positions at the high school because of increases enrollment, and capital improvement projects such as Ridley Middle School auditorium lighting, and security projects.
Final approval of the budget will take place at the board’s June 11 meeting, which is one week later than the usual first Monday of the month school board meeting.
The proposed final budget for the next school year shows an increase in expenses over the current year’s budget of $3,158,251. The revenue side of the upcoming budget shows an increase of $3,890,203 in the district’s total taxable assessed value.