Abington School Board OKS proposed final budget
Striving toward a zero tax increase, the Abington School Board approved a SrRSRsHG finDl buGJHW RI $136.6 million at the April 23 board meeting.
This is a decrease from the $13T.3 million preliminary budget that was approved in cebruary, but a 2.89 percent increase from this year’s $133.4 million budget, acFRrGLnJ WR WKH buGJHW fiJures.
Although the budget does not include funds from the state and federal government, as those numbers are nRW finDl yHW, BusLnHss 0Dn- ager Christopher iionetti explained how the district is working to produce a zero tax increase for residents.
The mileage rate has decreased from the proposed 28.2T mills projected in the preliminary budget to 28.1 mills. However, homeowners may see a possible 1.M8 percent tax increase from last year’s 2T.8M mileage rate, which is an additional $42.34. Homes assessed at the district average of $141,13M are estimated to pay roughly $3,96R in taxes, DFFRrGLnJ WR WKH fiJurHs.
However, to prevent taxes from increasing, iionetti said $1.R million would have to be carved out of the district’s expenses. Thus far, the district has trimmed $T29,MMM out of the budget, which consists of $TMM,MMM of reductions in mandated bHnHfiWs DnG nRn-sDlDry/ nRn-bHnHfiW HxSHnsHs. BHFDusH WKH mDnGDWHG bHnHfiWs have been reduced, the state shares of those expenses have been reduced, which is projected to cause a decline in revenue.
However, through the Juvenile Accountability Block drant, which are state funds that support local youth accountability programs, dov. Tom Corbett proposed to give the school district $123,2M1, which iionetti said was an unexpected revenue source.
The district is looking at a net revenue decrease of $T29,286 in addition to the cuts in expenses, which include deferring some of its capital projects, to balance the budget and reach a zero tax increase.
Abington Superintendent Amy Sichel said her staff will evaluate where the district has underspent in the present budget, which could increase the allocated fund balance projection of $1M.R million by almost a million dollars giving the district a zero tax increase.
Revisions to the proposed finDl buGJHW wLll bH mDGH and discussed at the jay 14 bRDrG mHHWLnJ. 7KH finDl budget is scheduled to be adopted June 2R.