Here is the Agenda for tonight’s TESD School Board Meeting. I warn you that it is 74 pages but it might be useful for your review before tonight’s meeting. Several residents have called or emailed to say that they will attend; I hope that many of you will take meeting notes to share on Community Matters. Continuing this important dialogue tomorrow will be important.
I put together some basic information for myself about the budget that I thought I would share. I am not quite sure about the difference in #2 and #3 approach, should the School Board decide tonight to apply for an Act 1 exception. Perhaps one of our resident experts could explain. If any of this information below is incorrect, also please let me know.
Fact Sheet for January 25 TESD Meeting:
Proposed Budget Revenues: $101.9 million
Proposed Budget Expenses: $111.5 million
Proposed Budget Deficit: $9.2 million
Major contributing factor to $9.2 million budget deficit: $5 million increase in employee fringe benefits (example, Blue Cross health care benefits increased by 28%)
Additional contributing factors to budget deficit: decrease in real estate transfer tax, decrease of interest income
Preliminary budget will be discussed and voted on at January 25 TESD Board Meeting; final budget and tax rate will be voted on at June TESD Board Meeting
At January 25 TESD Board Meeting, School Board must vote to take one of these 3 options:
(1) Pass a resolution certifying tax rate will be at or below Act 1 index of 2.9%
(2) Apply for exceptions to Act 1 index (would allow district to raise taxes above the 2.9% without voter referendum)
(3) Authorize the administration to start process to seek voter referendum in May to increase taxes above the 2.9% Act 1 index
TESD tax increase with Act 1 exception can be has great as 6.7%.