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Towanda Area SD adopts $34.76M budget, sets 51.83‑mill real estate levy
Summary
The Towanda Area School District board adopted a $34,761,011 general fund budget for 2026–27, approved a 51.83‑mill real estate levy and several transfers to the capital reserve; the vote was unanimous among members present.
The Towanda Area School District Board of Education adopted a final General Fund operating budget for 2026–2027 of $34,761,011 at its June 15, 2026 regular meeting.
The board approved a real estate levy of 51.83 mills (5.183 per $100 of assessed valuation), an earned income tax levy of 1.25% (effective rate 0.74% for the district, 0.5% for municipalities under Act 24), a 2% discount for early real estate tax payments and a 10% penalty for payments made after four months. The action included Resolution #TASD 2025/26-03 granting homestead/farmstead exclusions under the Taxpayer Relief Act. The motion passed by voice vote, 6-0-0-3.
The board also approved transfers from the 2025/26 General Fund to the Capital Reserve Fund totaling $1,537,550 (a $350,000 transfer, up to $200,000 additional from positive fund balance, and $1,187,550 as an offset for debt service paid from Assigned Fund Balance). The transfers were presented as part of the budget motion and approved by the board.
