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Palmyra Board adopts $31.09 million FY2027 budget, applies surplus to school projects
Summary
The Palmyra Board of Education on April 29 adopted a $31,085,465 final FY2027 budget and a local tax levy of $12,616,449, reallocating $716,890 in surplus to supplement previously approved school capital projects and approving multiple reserve transfers for maintenance and boilers.
The Palmyra Board of Education adopted the district's final FY2027 budget on April 29, approving a total budget of $31,085,465 and a local tax levy of $12,616,449. Business Administrator Jared Toscano presented the final figures during the public hearing, which showed a general fund total of $26,724,815 and a general fund local levy of $11,148,820.
Board members also approved several budget adjustments tied to capital work and maintenance. The board authorized a $119,808 withdrawal from the Maintenance Reserve for required maintenance, a $1,121,553 withdrawal from Capital Reserve for boiler replacement at Palmyra High School and fire-alarm replacement at Delaware Avenue School, and a deposit of $377,002 into the district's Capital Reserve for future projects. The resolution additionally applies $716,890 of district surplus to supplement a previously approved March 12, 2024 referendum for improvements at Charles Street School and Palmyra High School, citing higher-than-anticipated labor and material costs.
