Proposed 2013-2014 Budget Approved by the Board of School Directors
The Methacton School District Board of School Directors voted to adopt a proposed budget for the 2013-2014 school year during the Board's regularly scheduled meeting on May 21, 2013. The proposed budget includes a 2.09% tax increase, which equates to an increase of .561 mills, resulting in a proposed millage rate of 27.39.
The increase in the District's required contribution to the Pennsylvania State Employee's Retirement System [PSERS], increasing special education and charter school costs combined with stagnant local, state revenues and decreasing federal funds present the greatest challenges in building the budget.
PSERS continues to be the single largest expenditure increase in the 2013-14 budget. Net of state reimbursement, Methacton’s cost increase from 2012-13 to 2013-14 for this budgetary item will increase by over $1 million.
The budget also includes the use of $550,000 of fund balance in order to balance the budget at $95,311,312. The 2.09% tax increase included in the proposed budget includes the 1.7% increase allowable under the Act 1 limit, as well as an additional .39% allowable through the PSERS retirement exception.
A resident whose home is valued at the average residential assessment of $180,767 would see a $101.23 increase in real estate taxes, resulting in a 2013-14 tax bill of $4,951.21 (over a 2012-2013 tax bill of $4,849.98).
Final budget approval is scheduled for the regular June 25, 2013 meeting of the Board. Meeting agendas and locations are posted on the morning of the meeting, please click here to check the agenda, and confirm meeting times and locations.