Methacton trims preliminary budget; officials say $1.3M more needed to meet Act 1 index

Methacton School District finance staff presented a budget update at the Feb. 25 board meeting showing several reductions to the preliminary fiscal‑year figures and outlining remaining work before final approval in May.

Director of Financial Services Miss Steffey told the board that the preliminary total expenditures of $139,804,158 were reduced by $829,623 through lower estimated salaries ($178,975), reduced retirement costs ($446,101) related in part to a final PSERS rate of 34.0% (versus a projected 34.72%) and a lower health‑care projection (second look at 6.0% versus an earlier 7.7% estimate). On the revenue side, small increases were reflected for Basic Education and Special Education subsidies based on the governor’s preliminary budget.

After the net changes, the district still needs to identify approximately $1.3 million in additional adjustments to meet the Act 1 index limit without using fund balance or the special‑education exception, Steffey said. The presentation listed timeline milestones: March finance committee and board work‑session updates, April review of the proposed final budget, and final budget approval scheduled for the May 27 regular voting meeting.

Board members asked for more detail on the salary adjustments and the number of positions involved; the finance director said some reductions reflect retirements and hires at lower step/salary placements and that more staffing detail would be presented at upcoming meetings. Open items the administration listed included tax‑revenue updates, charter school adjustments tied to enrollment, North Montco Technical Career Center figures, workers’ compensation estimates, and a final health‑care rate to be received in April.

Provenance: financial update delivered by Miss Steffey at the Feb. 25 board meeting.