Advertisement

Greencastle-Antrim School Board budget discussion continues

District's deficit has been pared down to $196,000

June 07, 2012|By ROXANN MILLER | roxann.miller@herald-mail.com

GREENCASTLE, Pa. — Compared to recent meetings, the Greencastle-Antrim School Board meeting was calm Thursday night as the board continued to discuss its 2012-13 budget.

As his last official act as business manager before his retirement begins, Dick Lipella said the district’s deficit has been pared down to $196,000.

The district’s 2012-13 budget is about $33 million.

“I’m very comfortable with where this budget is at this point,” Lipella said.

He told the board that money from the more than $4 million fund balance could close up the budgetary shortfall.

When the board votes on its final budget on June 21, the budget will appear on the agenda with no tax increase, Lipella said.

While the board debated the merits of raising taxes one or two mills, Lipella said some of the money in the fund balance must be diverted before a tax increase can occur.

Advertisement

One mill is $1 of tax for every $1,000 of assessed property value.

Right now, Greencastle’s fund balance is just more than 8 percent of its expenditures.

Lipella said the state stipulates that a district can’t raise taxes if its fund balance is more than 8 percent of its expenditures.

“If we raise taxes one or two mills, then we have to transfer some funds into another account,” Lipella said.

One mill brings in $183,000 in revenue to the district.

Lipella said if the district raises taxes two mills, it must transfer approximately $366,000 from the fund balance to the Public School Employees’ Retirement System fund, or to technology or facilities so the fund balance is not above 8 percent of the district’s expenditures.

“Zero mill will be the budget that is presented, but I’m not sure if that will pass,” said Eric Holtzman, board president.

He said a board member could bring a motion forward on June 21 that would include a tax increase.

If the board votes in favor of a mill increase, Lipella said the average taxpayer would pay $22 more a year for every mill approved.

The board is scheduled to approve the district’s budget on June 21 at 6 p.m. in the Greencastle-Antrim Middle School library.

The Herald-Mail Articles
|
|
|