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Finance committee reviews closeout projections and tax collections; resident raises questions about 4% tax increase
Summary
The finance committee reviewed June and July financials, reported a projected $5.3 million surplus, noted $11.9 million in July tax collections and a new assessed value of $5.5 million for 1125 Virginia Drive; resident questioned a 4% tax increase and district staff offered follow-up.
Upper Dublin School District staff presented June and July financial reports to the finance committee on Aug. 20, outlining a projected year-end surplus of about $5.3 million, updates on tax collections and a summary of outstanding reconciliation items.
Staff said June closeout remains in progress ahead of auditors’ visits in September and reiterated two open reconciliation items: PECO utility billing issues that affected multiple accounts and reconciliation of out-of-district tuition for student placements. Staff said July collections reported through the tax collector totaled about $11.9 million, or roughly 13.5% of expected annual property-tax receipts. The packet also showed the district received…
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