Methacton School District's Final Budget Approved

The Methacton School District Board of School Directors adopted their final school budget for the 2013-2014 school year during their June 25 meeting.  In the budget is a 1.85% tax increase, meaning a .5 mills increase, and a 27.33 proposed millage rate.

The greatest hurdles in building the budget were expanding special education and charter school costs, the expansion of the district’s contribution to the Pennsylvania State Employee's Retirement System (PSERS), dormant state and local revenues, and shrinking funds from the federal government.

PSERS is the biggest expenditure increase in the current budget.  Net of state reimbursement, the district’s cost increase for this item will be over $1 million from the 2012-2013 to 2013-2014 year.  

Also in the budget is the use of $595,000 of fund balance needed to balance the budget at $95,248,073.  The 1.85% tax increase included in the proposed budget includes the .15% allowable through the PSERS retirement exception and the 1.7% increase allowable under the Act 1 limit. 

A resident whose home is valued at the average residential assessment of $180,767 would see a $90.38 increase in real estate taxes.  This would result in a 2013-14 tax bill of $4,940.36 (over a 2012-2013 tax bill of $4,849.98).