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Kennett finance committee hears 2026-27 budget timeline as PDE delays Act 1 modified indexes
Summary
Finance committee received a budget development update, including an overview of the Act 1 index, audit schedule and a December budget meeting that will cover salaries and benefits; committee approved its June minutes.
The Kennett Consolidated School District Finance Committee met to review the district's general operating budget development timeline and the state Act 1 index that drives allowable tax and tuition calculations. Committee chair Mr. Finnegan opened the meeting and asked for approval of the June finance committee minutes; a motion and second were recorded and the committee voted to approve the minutes.
Mr. Tracy, who led the budget presentation, said the meeting marked the start of the 2026-27 budget development cycle. He told the committee the Pennsylvania Department of Education (PDE) posted the base Act 1 index on Aug. 30 and that Kennett’s base index is 3.5%. Tracy said district practice has been to use the base index except in rare years when the district qualified for an adjustment based on market value and personal income factors.
Tracy said PDE had not published modified Act 1 indexes for neighboring Chester County districts at the time of the presentation and that PDE’s missing timeline materials will determine the district’s filing and referendum-exception deadlines. “That will come into play if, which I don't believe will be the case, we receive a modified index,” he said.
Committee members were shown the district’s internal budget calendar and key dates on the board docs site. Tracy said the independent auditors’ draft report should be available in November, though portions tied to the GASB pension accounting and the district’s single-audit work on federal programs could delay final statements. “The meeting that everybody should plan on attending…is the second Monday. It is December 8,” he said, noting that the Dec. 8 meeting will cover salary and benefits, including collective bargaining items that represent roughly 60% of the district’s budget.
Tracy reviewed other calendar items: a facilities long-range plan presentation in February and a technology five-year plan in March. He said the committee could request additional deep-dive meetings on specific budget areas in February–May if needed.
The committee also opened the floor for public comment; no members of the public attended.
The motion to approve the finance committee minutes from June was moved and seconded by committee members and passed by voice vote.
