Octorara Area School District business manager Jeff Curtis advised the board May 20 he will have a revised version of the 2019-20 budget ready next month, using a real estate tax rate increase of 2.1%.
In April, the board approved a proposed final budget in the amount of $56.66 million using the full 2.9% tax increase allowed under the state’s Act 1 index this year. That spending plan also uses about $500,000 from the district fund balance to balance the budget.
After discussion at the finance committee preceding the full board meeting, Curtis was directed to prepare an alternative version of the budget using the lower tax increase. The board will also consider possible budget reduction strategies to be implemented in the new school year.
Curtis also reported that figures are in for the homestead/farmstead reduction for the coming year. In both Lancaster and Chester counties, eligible property owners will receive a reduction of $269 from their property tax bills.
The board will review the revised budget in June with final budget adoption set for the board’s June 17 meeting.