Credit: Tom Sofield/LevittownNow.com
While its only days in to the new year, Pennsbury officials are already working on the 2015-2016 budget.
During Thursday night’s meeting, business administrator Dan Rodgers said the district currently has a $7.998 million gap to fill before the budget must be approved by June 30. The early budget currently has about $10 million more in costs than the 2014-2015 budget.
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The district anticipates bringing in $184,048,000 and spending $192,046,000 next budget year.
At the January 15 meeting, the board will vote on whether a resolution to stay within next year’s Act 1 index limit of 1.9 percent. If the board votes down the measure, Rogers explained a preliminary budget would be adopted on February 12. The February preliminary budget would allow the the district to petition for exceptions from the Act 1 requirements.
Rogers said state and federal funding is of concern because the amount of money the district will receive is uncertain.
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He also said contributions to the Pennsylvania Public School Employees’ Retirement System (PSERS) will increase by roughly 20 percent and cost the district $4.6 million.
The district has technology costs, upgrades to buildings, maintaining programs and new hire costs to also worry about.
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Pennsbury will look at advertising in buildings and at sports complexes along with other revenue sources to help fill the gap.
Rogers noted the good news that real estate appeals are expected to go down in 2015-2016.
