Advertisement

Greencastle-Antrim School Board OKs preliminary budget

Before voting on the final budget in June, the board could raise taxes up to 2 mills

April 05, 2012|By ROXANN MILLER | roxann.miller@herald-mail.com

GREENCASTLE, Pa. — Greencastle taxpayers will not face a real estate tax increase following a 9-0 vote Thursday night to pass the school district’s proposed 2012-13 preliminary budget.

With revenues at $32,650,311 and expenditures at $33,215,482, Business Manager Dick Lipella said the district could close up the $565,171 budget shortfall by pulling funds from the fund balance.

Lipella said there is about $4.2 million in the district’s fund balance.

“Our fund balance is strong, but you don’t want to take it to zero,” he said.

However, before voting on the final budget in June, the school board could vote to raise taxes up to 2 mills to close the gap rather than closing the gap solely from the fund balance, Lipella said.

A mill represents $1 of every $1,000 of assessed property value.

Lipella told the board next year the budgetary shortfall could be $1.5 million.

Board member Joel Fridgen suggested raising taxes this year to continue moving the district forward.

Advertisement

Fridgen said if the board continues not to increase taxes soon, the board might have to pass an 8-mill tax increase to balance the budget.

“My preference is we do a mill increase to keep us progressing,” Fridgen said. “If we try to take everything out of our fund balance now, how do we as a board address that?”

Board President Eric Holtzman said it is the district’s third year of not doing a balanced budget.

“You just can’t continue to do that,” he said.

The board will hold a public work session to discuss the budget at its next board meeting on April 19 at 6 p.m. at the Greencastle-Antrim Middle School library.

The Herald-Mail Articles
|
|
|