This is just a brief overview of information fom the budget meeting held last night (January 13, 2010)
We have over $8 million increase in expenditures that we can not control. They include the following: salary increases ($2.2 million), PSERS (increased to 8.22%, or $1.9 million), medical insurance/FICA ($.9 million), IU costs ($1.4 million), tuitions (tech/charter/other, $1.4 million), and utilities ($.3 million).
As of right now there are plans to address the gap through a reduction in expenditures (which could include programs, services, and employees) as well as a draw down from our fund balance. If we continue to draw down our fund balance, we could be left with no fund balance in 3 years when the the PSERS spike will be in effect.
We will be holding addional budget work sessions. We have added 3 work sessions this year and they will be held on February 24th, March 24th, and April 28th from 6:30-7:30 pm. I would encourage everyone to either watch on TV (comcast channel 28 / Verizon channel 32) or stop by to see what is coming down the line. We do not vote on a final budget until June.
Parx Casino
Please keep in mind the school district does NOT receive ANY portion of the $10 million from the casino. This mony goes to the township. We do see some relief from our taxes in the form of the $300 homeowner's assistance grant we receive in October. We previously would receive approximately $15,000 (yes, $15 thousand) from the casino for valet parking. This year Jack Myers is projecting only $2100 since the casino has been offering free valet parking.
Thursday, January 14, 2010
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment
While comments are welcome, I will delete comments that are demeaning or have inappropriate language (including the use of $ for an 's', and other acronyms.)