Perkiomen Valley School District Business Administrator Jim Weaver admitted there was “very little movement” in the proposed 2013-2014 budget between the December and January Perkiomen Valley School Board meetings, but presented a lit of potential revenue enhancements and expenditure reductions are being considered.
According to Weaver’s Jan. 14 budget presentation, the proposed expenditure total as of Jan. 14 is $96,723,433, and the proposed revenue is $90,671,049 – leaving a $6,052,384 shortfall.
With no cuts, this would lead to a real estate tax increase of 10.11% from the 2012-2013 real estate bill.
Due to the Act 1 Index, PVSD is only permitted to raise taxes 2 percent without seeking voter approval. The permitted tax increase will leave a roughly $5 million shortfall.
Weaver distributed an extensive list of potential expenditure reductions, including staff and program reductions, a wage freeze, debt service refunding, tax collector compensation reduction, building budget and travel account reductions, using funds generated by book fairs to cut $50K from library budget, evaluating new versus replacement equipment, and more contributions from booster clubs and fundraisers regarding athletics.
To increase revenues, Weaver proposed finalizing assessment appeals, continued growth in earned income and real estate taxes, and utilizing the fund balance to impact the shortfall.