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Delaware Valley SD reviews draft budget showing $2.17 million shortfall; administration proposes 3.93% millage increase
Summary
At a work session, district officials walked trustees through a draft budget with a $2,166,567 gap and recommended a proposed 3.93% millage increase (1.2925 mills) to balance revenues and expenditures; trustees debated the size of the increase, reserve strategy and formation of a budget/finance committee.
Delaware Valley School District trustees on Tuesday reviewed a draft proposed-final budget that shows expenditures of $102,519,418 and revenues of $100,352,851, leaving a projected shortfall of $2,166,567. District finance staff presented a version of the budget that would be balanced by a 3.93% millage increase (an additional 1.2925 mills), which the presentation estimated would add roughly $136 annually (about $11.33 per month) to a median homestead tax bill under the district’s assumptions.
Why it matters: the board must place the proposed-final budget on public display for 30 days before final adoption; administration said the proposal would be on display immediately after next week’s meeting with final adoption scheduled for the June 18 board meeting. Trustees were urged to review the packaged materials and submit suggested changes while the display period…
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