Tredyffrin/Easttown School District Approves $130 Million Budget

TREDYFFRIN, PA -- At its regular meeting on April 25, 2016, the T/E School Board approved the 2016- 2017 proposed final budgeted expenditures of $130,770,392, the district announced in a press release.

The proposed final budget reduces the property tax rate increase that was set in January’s preliminary budget, from 4.3% down to 3.875% (or $205 to the average assessed house in T/E). The District is still facing a budgeted operational deficit of $491,604 which needs to be satisfied with existing reserves. The 2016-2017 final budget and property tax rate will be set on June 13th.

The two largest cost drivers behind the need for the proposed increases in property taxes are the contributions to the Pennsylvania State Employees Retirement System (PSERS) and mandated special education services. The District is required by law to make legislated contributions to maintain PSERS, which is increasing by over 17% in next year’s budget to $16.7 million in expenses.

The Act 1 index of 2.4% is the maximum property tax rate increase permitted for the District without referendum exceptions. The District was approved for exceptions to the Act 1 Index that would allow for an additional property tax rate increase of 1.9%. Local revenue including property taxes contribute approximately 84% to the District’s budget, with roughly 16% from state sources and less than 1% from the Federal government.

The T/E School Board and administration will continue to review the budget before voting on the 2016-2017 Final Budget at the June 13, 2016 Regular Board Meeting.at 7:30 pm at Conestoga High School.

The meeting agenda will be available prior to the meeting on the T/E School District web site. There are public comment periods at all public School Board meetings. Public comment may also be submitted to Arthur J. McDonnell, Business Manager, at mcdonnella@tesd.net or to the T/E School Board at schoolboard@tesd.net.

The budget presentation from the April 25, 2016 School Board meeting is available on the T/E School District web site under “Budget” and “2016-2017 Budget Development”. The 2016-2017 proposed final budget will be available for public inspection at the T/E School District Administration Offices and on the District web site at www.tesd.net/budget then “2016-2017 Budget Development” in accordance with the law.