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Saucon Valley preliminary budget shows roughly $9 million shortfall; board to prioritize cuts and projects
Summary
Board heard that the district's preliminary budget currently shows about a $9 million deficit, driven by flat or falling assessed values, proposed capital projects and rising student placement and personnel costs; administration and the finance committee will return with options.
Board members spent a substantial portion of the meeting reviewing the finance committee report and the district's preliminary budget.
"We did our first review of the initial budget... the initial preliminary budget is $9,000,000 in the red this year," said Director Carpenter during the finance summary. Administration and finance committee members attributed the gap to several factors: a roughly 7% drop in assessed values that reduced local revenue, a projected list of capital projects totaling about $4.7 million, rising…
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