McGuffey School District approves proposed 2024'25 budget for public viewing amid $1M shortfall
April 18, 2024 | McGuffey SD, School Districts, Pennsylvania
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The McGuffey School District Board on April 18 approved a preliminary 2024'25 budget for public inspection, after a detailed presentation showing roughly $36,000,000 in proposed expenditures and just under $35,000,000 in estimated revenues — a gap the administration described as about $1,000,000.
The finance presenter emphasized that federal COVID-era ESSER grant funds are nearly exhausted, reducing revenue estimates, while salary and benefit costs now account for more than two-thirds of the district's revenues. The presenter said the district's unassigned reserves sit near 2.5% and noted state law allows up to 8% of the proposed budget in reserves before a tax increase is prohibited.
Board members reviewed Act 1 index options and the effect of different millage choices on taxpayers. The presenter gave examples for the district's median assessed-value homeowner (about $152,300): a 0.25-mill increase would raise that household's tax bill by roughly $38.07 annually; a 0.5-mill increase would add about $76 a year; and raising to the full permitted index could increase the annual bill roughly $143.11 before homestead or farmstead credits.
The presenter noted 2,943 households in the district currently qualify for the $374 homestead credit; statewide relief proposals announced by the governor could alter that figure and the effective taxpayer impact once details are released.
Board members repeatedly stressed that the vote taken April 18 was for a proposed or preliminary budget to satisfy public-notice requirements; the board may revise the final budget before it is adopted (final adoption timelines were discussed as due in June). The board approved the item by roll call and moved the proposed budget to a 30-day public viewing period as required by law.
Next steps: the administration will continue to refine revenue and expenditure projections, consider millage options, and return to the board for final adoption no later than the statutory deadline.
The finance presenter emphasized that federal COVID-era ESSER grant funds are nearly exhausted, reducing revenue estimates, while salary and benefit costs now account for more than two-thirds of the district's revenues. The presenter said the district's unassigned reserves sit near 2.5% and noted state law allows up to 8% of the proposed budget in reserves before a tax increase is prohibited.
Board members reviewed Act 1 index options and the effect of different millage choices on taxpayers. The presenter gave examples for the district's median assessed-value homeowner (about $152,300): a 0.25-mill increase would raise that household's tax bill by roughly $38.07 annually; a 0.5-mill increase would add about $76 a year; and raising to the full permitted index could increase the annual bill roughly $143.11 before homestead or farmstead credits.
The presenter noted 2,943 households in the district currently qualify for the $374 homestead credit; statewide relief proposals announced by the governor could alter that figure and the effective taxpayer impact once details are released.
Board members repeatedly stressed that the vote taken April 18 was for a proposed or preliminary budget to satisfy public-notice requirements; the board may revise the final budget before it is adopted (final adoption timelines were discussed as due in June). The board approved the item by roll call and moved the proposed budget to a 30-day public viewing period as required by law.
Next steps: the administration will continue to refine revenue and expenditure projections, consider millage options, and return to the board for final adoption no later than the statutory deadline.
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