Allegheny Valley School Board approved its proposed budget Monday, meaning local homeowners likely won’t see any changes to their tax bill next year.
The budget would maintain the district’s current rate of 21.7049 mills. That means a taxpayer who owns property with the median assessed value of $85,900 would continue to pay $1,864 in school taxes.
Allegheny Valley would be forced to draw from its fund balance to cover its costs for the second straight year, however.
The district will vote on the final budget next month.
District expenditures are predicted to be about $28.37 million while revenues are projected to amount to $25.56 million, meaning Allegheny Valley would draw about $2.8 million from its $20.6 million reserves.
The budget forecasts about $17.75 million in local revenues, on par with this school year’s budget; $7.25 million in state funding, about $220,000 more than this year; and a level $335,000 from the federal sources.
Expenditures would see a decrease of around $200,000 compared with this year, mainly driven by a small dip in debt payments.
Like most districts, more than half of Allegheny Valley’s budget will go toward employee salaries and benefits, while another chunk would be used to service its debt obligations.
Board President Paula Moretti thanked district Business Manager Hamsini Rajgopal, administration and fellow board members for their work trimming the budget.