Barring any major changes, the Franklin Regional school board will vote later this month on adopting a 2019-20 budget that raises property taxes by 2.2 mills.
The proposed final budget of $59.7 million is about $1.45 million more than this year’s budget.
Financial Services Director Jon Perry said $475,000 of that increase is the district’s contribution to teacher pensions, or the PSERS system, which this year rises from 33.43 percent to 34.29 percent.
Perry said in May that just under $680,000 from the district’s dedicated PSERS fund balance will be used to “smooth out that PSERS increase.”
“Expenditures decreased a little bit less than $10,000, primarily due to personnel updates, and our revenues increased about $32,000 based on projections for earned income tax and earnings,” Perry said.
If the board holds to a 2.2-mill tax hike (98.06 mills total), it will mean about $76 more in taxes for a homeowner with the median assessment of $34,400. A mill is projected to raise $354,000 in revenue.
The board is expected to take a vote on the final budget at its June 17 meeting, 7:30 p.m. at the Murrysville municipal building at 4100 Sardis Road.
For more, see FR’s BoardDocs page, which includes agendas for upcoming meetings as well as meeting minutes.
