$2 Million Deficit Eliminated In Hatboro-Horsham School Budget

HORSHAM TOWNSHIP, PA —The Hatboro-Horsham School District has approved its 2023-2024 school budget, which once included a projected $2 million deficit, school officials said.

At its recent meeting, the school board granted approval to the $126.9 million school budget.

The preliminary-final budget does not recommend a tax increase. That would only be done with the final budget, school officials said.

The state’s Act 1 limit (the maximum allowable tax increase) for 2023-24 is 4.1 percent.

The final school budget —and a possible real estate tax increase —is scheduled to be approved on June 19.

Bill Stone, the district's director of business affairs, presented the preliminary-final school budget.

He discussed how the district’s budget priorities focusing on positively impacting student achievement are part of a multi-year effort.

Since the budget presentation in February, the district made "significant adjustments" to projected revenues and expenditures to achieve a balanced budget, Stone said.

In February, the district was projecting a budget deficit of $2.06 million.

Stone said that since that time, the district was able to eliminate the budget deficit.

The preliminary-final school budget approval is a requirement of the Pennsylvania Act 1 budget process, and it does not establish a recommended real estate tax increase.