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Board previews 2025–26 budget with 4% tax increase; authorizes up to $12 million in bonds for middle school project
Summary
Finance committee presented a first-look budget showing a $1.68 million gap to be drawn from fund balance under a proposed 4% tax increase; the board approved a bond parameters resolution of up to $12 million for middle school renovations and other capital work.
At the March 18 meeting, the Springfield Township finance committee and board reviewed a first-look 2025–26 budget projecting a proposed 4% property tax increase and advanced a bond parameters resolution to finance capital work.
Mr. DeFranco summarized the finance committee discussion, saying the Act 1 index is slated at 4% for 2025–26 and the draft budget anticipates expenditures of $76,307,395 against revenues of $74,624,392, leaving a shortfall of $1,683,003…
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