Mt Lebanon SD previews 2024–25 budget after administrators report roughly $1.9M 2023–24 overrun

On March 18, 2024, Mt Lebanon School District administrators told the school board the district projects to be roughly $1.9 million over its 2023–24 budget and presented a preliminary 2024–25 budget that would raise spending for textbooks, insurance, salaries, tuition and transportation while asking the board to consider lowering the district's fund-balance requirement.

Dr. Friese, who led the presentation, said administrators "are projected to be approximately $1,900,000 over the budgeted amount" for 2023–24 and walked the board through specific cost drivers and the administration's efforts to limit spending. Finance consultant Pete Camarda told the board revenue collections year to date are close to estimates and that the draft 2024–25 revenue picture incorporates an assumed Act 1 index increase.

Why it matters: the district's audited fund balance for 2022–23 was $4.6 million; administrators project the estimated final 2023–24 fund balance will be about $3.2 million. Dr. Friese said the board will…