$6.87M Deficit, Tax Hike Included In TESD Preliminary Budget​

WAYNE, PA – Last week, the Tredyffrin/Easttown Board of School Directors gave the go-ahead to display the 2018-2019 preliminary budget proposal ahead of the Jan. 22 meeting where the board is set to vote on adopting the budget preliminary budget.

The 2019-2019 preliminary budget proposal has a projected operating deficit of $6.87 million and to counteract the deficit the board is proposing a 2.42 percent property tax increase.

The 2.4 percent of the tax increase comes from the allowed Act 1 index increase while the .02 percent stems from projected from referendum exceptions to Act 1, the district said.

The public can inspect the preliminary budget proposal now at the T/E School District Administration Offices, 940 West Valley Road, Suite 1700, Wayne.

The board is set to vote on adopting the preliminary budget at its Jan. 22 meeting. Development of the 2018-2019 budget will be discussed at the Jan. 16, 2018 Finance Committee meeting, which will be held at 7 p.m. in the district's administration offices.

The final vote on the budget is slated for June 11.

"The T/E School Board and administration will continue to work towards balancing the budget and determining a final tax rate between now and final budget approval in June 2018," the board said. "The T/E School Board encourages public participation during the budget development process and endeavors to reflect the input of joint stakeholders."

All board committee meetings are open to the public and have public comment periods.

Public comments may be submitted to TESD Business Manager Arthur J. McDonnell at mcdonnella@tesd.net or to the T/E School Board at schoolboard@tesd.net.

Watch the Jan. 2 meeting where the budget was discussed below:

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