Schools
School Board Passes Proposed Final Budget with No Tax Increase
Over a million dollars in savings and over $3 million in fund balance money to balance the budget, means no tax increase for residents.
The voted unanimously to approve and advertise the proposed final budget for the 2012-12 school year.
The District found $1,061,851 in savings through cuts and efficiencies.
Through the savings, and a projected $10,000 increase in revenue from an increase in the parking fee, the school board directors approved the proposed final budget with a zero percent tax increase.
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The millage rate for the school district will remain at 17.65, which is the second lowest millage rate in the county.
“We are in a significantly better financial situation than most districts,” said Wade Coleman, business administrator for the district.
Find out what's happening in Lower Gwynedd-Ambler-Whitpainfor free with the latest updates from Patch.
The district expects revenue of $83,314,743 and expenditures of $86,868,528. To balance the budget, $3,553,785 will be used from the fund balance. Coleman said after the expected use for the 2012-13 school year, the district will have between $14.5 and $15 million left in the fund balance.
The budget is available for inspection at the schools, the Wissahickon Public Library and on the district’s website.
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