Abington finance director reports August revenues, flags state budget impasse impact on subsidies

The Abington School District’s finance director told the board on Sept. 30 that through Aug. 31 the district had collected $92,881,216 in revenues and that real estate tax receipts totaled $86,136,303, with staff noting a timing pattern the district expects to correct in September.

Assistant business official Miss Denicola summarized the August report: “As of August 31, we have collected revenues totaling $92,881,216. This includes $86,136,303 in real estate taxes.” She told the board those real estate collections equated to 16.2% of the district’s budgeted real‑estate tax amount at that point in the fiscal year and contrasted that with the same point last year, when collections were 72.5% of budgeted real‑estate taxes. Denicola told the board she had reviewed early September collections and expected the September financial report would show real‑estate tax collections of at least 90%.

Denicola also explained that because of the state budget impasse the district had received only a partial state property tax reduction payment: $3,976,282, which is 50% of the budgeted $7,952,564. The remaining 50% historically arrives in October from the state fund supported by gaming revenue. District expenditures through Aug. 31 totaled $10,971,782 (about 5.4% of total budgeted expenditures), and personnel costs — salaries and benefits — account for roughly 70% of total expenditures, Denicola said.

Why it matters: the state budget impasse affects timing for a material state subsidy that reduces local property tax burdens. District staff said they are watching collections and expect September receipts to bring tax collections closer to historical levels; the board approved the financial report as presented.

Board members asked few questions during the presentation and the board approved the financial report and payment-of-bills addenda in roll-call votes during the meeting.