Tredyffrin/Easttown School Board Approves 2021-2022 Final Budget
On June 14, 2021, the T/E School Board approved the 2021-2022 Final Budget with a vote of 7-2. In the 2021-2022 school year, the T/E School District will serve over 7,000 students with a final budget that authorizes $163,233,551 in spending supported by $152,362,871 in revenue and $10,870,680 in fund balance allocation.
The $13.3 million budgeted operational deficit was balanced with a fund balance contribution of $3.9 million, approximately $6.4 million in expense reduction strategies and a property tax rate increase of 2.5% or $157 on the average assessed home in T/E. Homeowners eligible for the homestead/farmstead exclusion under Act 1 will receive a reduction of approximately $188 on their 2021 property tax bills from state gaming fund revenue.
The School Board employed several strategies as they worked to close the $13.3 million gap between projected revenue and anticipated spending: expense reductions, increased property tax rate and a significant fund balance contribution. In total, budgeted expenditures were cut by departmental and building-level budget reductions, reducing debt service costs, reducing substitute budget, reducing extra duty responsibilities (EDR), reducing regular education contracted services, the reduction of one professional staff position and implementing a new elementary student computer sharing fee.
For detailed information on the 2021-2022 budget, visit the T/E School District website at www.tesd.net/budget. Any further public comments regarding the budget may be submitted to Arthur J. McDonnell, Business Manager, at firstname.lastname@example.org or to the T/E School Board at email@example.com.