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Tredyffrin/Easttown School Board Approves 2024-25 Final Budget

At its regular meeting on June 10, 2024, the T/E School Board approved the 2024-25 Final Budget that authorizes $185,722,336 in spending supported by $181,113,505 in revenue and $4,608,831 from reserves. The largest part of the $9.5 million budgeted deficit in the 2024-25 operational budget was balanced with a property tax rate increase of 5.9% or $415 on the average assessed home in T/E. Homeowners eligible for the homestead/farmstead exclusion under Act 1 will receive a reduction of approximately $303 on their 2024 property tax bills from state gaming fund revenue. This reduction increased by $60 over last year’s tax reduction amount.

The School Board committed to including $6 million in a capital fund transfer as part of the operating budget. This capital funds transfer is part of an overall strategy of increasing the capital fund balance for future capital projects, which include the athletic fields project and the new elementary school project, in addition to lessening the reliance on issuing long-term debt for future projects.

For detailed information on the 2024-25 budget, visit the T/E School District website at www.tesd.net/budget. Additional budget details are also available in the Annual Update newsletter.

 Any further public comments regarding the budget may be submitted to Arthur J. McDonnell, Business Manager, at mcdonnella@tesd.net or to the T/E School Board at schoolboard@tesd.net.