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Business manager reports positive fund-balance change; board passes state-required taxpayer-relief resolution
Summary
Business manager Viola told the board the annual financial report shows a positive increase 'of just over 638,000' in the fund balance; she explained the Pennsylvania Department of Education requires a taxpayer-relief resolution that caps a nonvoter tax increase (cited as 5.2%).
The McKeesport Area School District business manager reported at the Jan. 15 meeting that the district's annual financial report (AFR) filing is underway and that the fund balance has a positive increase "of just over 638,000." She said auditors will finalize reports in February–March.
Explaining item 9.4, the business manager said, "We're required by the PDE to pass a resolution" and described how the department calculates a percentage that limits how much the district could raise taxes without a public vote; she cited the current percentage as "5.2%." Board members discussed budget timing and whether to consider lowering tax millage, and one member noted large reserves and questioned whether the district should retain a large fund balance.
The board approved the taxpayer-relief resolution as presented. Board members said they do not currently intend to raise taxes.
