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BREAKING NEWS: New Push For PA School Property Tax Elimination Expected

New Push For PA School Property Tax Elimination Expected

The Octorara Area Board of Directors and Finance Committee met on Monday, January 16, 2017. Eight Board members were in attendance. Anthony Falgiatore was absent.

2017-2018 Budget Update

While the overall agenda was limited, the Finance Committee and Board did receive an update on the 2017-2018 Budget. Some of the presentation was a formalized reporting of what we have already been told. However, there was some new data and projections.

  • Early State Funding Estimates – Our developing budget does not include increases in State spending for Basic Ed, Special Ed , or Ready to Learn. This is because Pennsylvania is suffering from a revenue shortfall of $260 Million, which is expected to grow to $600 Million. There are rumors that some in the General Assembly are working to add $100 Million to Basic Education, but, for now, it is just that… rumors.
  • Anticipated Use of Fund Balance –  In December, the originally reported Anticipated Use of Fund Balance was $577.285. After the actual Debt Service refinancing, this number has increased to $652,775.
  • Taxing to the Act 1 Limit – The current deficit of $1.2 Million and an Anticipated Use of Fund Balance of $652,775 are based on a 3.2% Property Tax increase.

The Blue & The Yellow

The Finance Committee has requested an update of the infamous Blue & Yellow List, which we will loosely describe as a list of potential cuts. Last year’s list included such things as: Continue reading

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