Board previews 2025–26 budget with 4% tax increase; authorizes up to $12 million in bonds for middle school project

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 that the district would supplement from fund balance. He said roughly 88.5% of expenditures are contractual obligations for salaries and benefits, and highlighted technology and facility capital items, including Chromebook and MacBook replacements, lease renewals, and wiring upgrades that depend in part on E-rate funding.

The committee reviewed the monthly and annual effect on a median Springfield Township homeowner of a 4% increase: an added $19.90 per month, or $230.82 per year. The board reviewed the budget process timeline: an April 11 finance committee meeting to review the proposed final budget, an April 22 regular board meeting to vote on the proposed final budget, and a June 3 interim meeting to approve the final budget.

On capital financing, the board approved a resolution authorizing the issuance of general obligation bonds in an amount up to $12,000,000 to fund renovations and additions at Springfield Township Middle School and other capital improvements, and to cover issuance costs. Board members asked clarifying questions about the bond and budget assumptions before approving the resolution.

The bond resolution will allow the district to proceed with planning and financing for the middle school renovation and other prioritized capital projects; specifics of schedules and contracts will follow later procurement steps and will be reported to the board as they develop.