Finance committee reports state approval for 5.18% tax-exception; board asked to trim proposed budget
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Summary
The finance committee said the state approved the district's exception to exceed the Act 1 index to 5.18%; the administration prepared a balanced budget at 5.18% but the committee asked staff to aim below 5% and highlighted increases in debt service tied to capital needs.
Finance committee chair Steve (voice S4) told the board the state has approved the district's request for an exception to the Act 1 index, allowing a proposed tax rate increase to 5.18%. The committee reported a proposed balanced budget at that level but requested administration rework options to get the budget "below 5%" if possible.
Steve said increased debt service will be part of next year's budget to fund capital needs identified in the five-year plan and that the district's per-student debt service is currently low compared with Montgomery County peers. The committee encouraged public input at finance meetings as staff prepares a proposed final budget in late April and a final vote in June.
No formal board vote on the budget occurred at the meeting; the committee previewed items that will appear on the April 6 agenda, including monthly finance reports, a retainer for McNeese, Wallace & Nurk, and a waiver of field-usage fees for the Kiwanis Club carnival.
