The School Board approved the 2013-2014 final budget at its June 17, 2013 meeting, with an authorized budget amount of $115,512,817. The authorized budget amount is comprised of $114,012,817 in anticipated spending required for operations and $1,500,000 for contingencies. Establishing a budgetary contingency or reserve allows the Administration to respond to unexpected operational needs after passage of the budget, such as teaching positions that result from increases in student enrollment. The 2013-2014 anticipated spending of $114,012,817 reflects an increase of 6.2% over the 2012-2013 projected actual spending of $107.4 million. Funding for the $114,012,817 in anticipated spending will come from projected revenues totaling $112,268,722 and the use of $1,744,095 from existing reserves. The projected revenues include an increase in property tax millage of .3274 (or 1.7%) that will generate revenue in the amount of $1,500,000, using the property tax collection rate of slightly over 97%. This tax rate increase translates to an annual increase of $82 on an average T/E home assessed at $251,531. The total tax rate for 2013-2014 will be 19.5902 mills.
The School Board Finance Committee will meet to discuss the 2014-2015 budget on the following dates:
All meetings will be held at 7:00 pm in the Tredyffrin/Easttown School District Administration Offices (TEAO) at 940 West Valley Road, Suite 1700 in Wayne unless otherwise indicated. The meeting location is subject to change, so please check the web site often.
The T/E School Board encourages public participation throughout the budget development process. Public comments regarding the budget may be submitted to Arthur J. McDonnell, Business Manager or to the T/E School Board.