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Radnor finance committee previews proposed final budget; staff says $223,000 deficit and 4% proposal could be trimmed
Summary
District staff told the finance committee the proposed final budget (to be presented April 22) reflects removal of a charter school subsidy and a resulting deficit a little over $223,000; staff forecast a proposed 4% millage that would raise the bill for a $500,000 assessed home by about $304 and said they expect to trim items before the May 27 final vote.
District administration presented a proposed final budget preview and timeline to the Radnor Township School District finance committee on April 8, saying the plan currently shows a deficit ‘‘a little under or a little over $223,000’’ after removing a charter school state subsidy not included in the governor’s budget proposal.
"So it did increase our deficit, to a little under or a little over 223,000," Mister Pauling said, noting staff intend to identify reductions over the next month to bring the proposed millage below 4% before the final vote. He said the administration will present the proposed final budget to the board on April 22 and return with the final budget for approval on May 27.
Pauling walked the committee through examples using local assessed values and the district’s millage calculation. Using a $500,000 assessed value as an example, he said a 4% millage increase would add about $304 to that property owner’s annual tax bill; he also noted the district’s average assessed value of $730,613 and that each 1% in millage change equals roughly a $76 difference for the sample $500,000 property in the example.
Pauling explained the PDE‑2028 form the Commonwealth requires at the proposed and final budget stages and described validation checks (including a predictable validation error the district will see until the state certifies property tax reductions on May 1) and a certification that the district will stay within the 8% unassigned fund balance cap required for larger districts.
A committee member urged broader tax relief, suggesting the SALT (state and local tax) deduction cap be raised above $10,000 to provide taxpayers more relief; staff acknowledged the tradeoffs between federal standard deduction changes and SALT limits but noted federal policy is outside the district’s authority.
Staff said they expect to bring a list of identified trims to the finance meeting next month and emphasized that the April 22 proposed final does not lock the district into a specific millage; adjustments can be made through the May final vote.
