The unveiling of the proposed, preliminary 2012-2013 general fund budget shows a current gap of nearly $5 million, according to a presentation by Business Administrator Jim Weaver given at the school board meeting Dec. 12.
For taxpayers, this represents an 8.5 percent bump. With Act I index allowances, 2 percent of that increase (about $1.2 million of expenses) would be covered, Weaver said.
Expenditures have increased 5 percent to nearly $92 million, and revenue sources equal about $87 million. Increased expenses include a 3 percent hike in salaries (about $1.13 million), benefits, transportation (2 percent, "by contract," Weaver said), and in special education (6 percent). Weaver said there may not be any options to rein in the special education expense because the district has already taken back many programs and the several vendors "are at 0."
The district has also saved hundreds of thousands of dollars with measures such as increasing co-pays.
The district's aid ratio is .4141, meaning PV will be eligible for additional state monies.
Other factors that could impact the budget include renovations to , and if the district decides to become a part of a self-funded health care consortium (BuxMont or SePAST)
The first look at the preliminary budget for 2011-2012 showed . The final budget was for residents -- the maximum allowed by the Act I index without a referendum.
(See the included budget presentation for more information).
The next presentation will be Jan. 9, and the board will have to vote on adopting the preliminary budget. Adoption does not "lock in" the district to any spending or cuts, but it is done to keep in line with Act I timeline.