Business & Finance

The Perkiomen Valley School District Board of Directors approved a General Fund Budget of  $116,931,627 on June 14, 2021.

The budget includes a tax increase of 1.0% percent, which is below the 3.0% percent Act 1 index that the Board had agreed not to exceed at the start of the budget process. The new tax millage rate effective July 1, 2021  will be 34.85 mills. In developing  the 2021/2022 budget the board and administration  considered the impact that the Covid-19 pandemic had on the overall financial position of the District .  The approved budget will allow the District to meet the needs of students while being fiscally responsible.

Highlights include:

Increases in salaries and benefits of $2,719,655  per labor agreements

The addition of 6 new positions including 2 Special Education Teachers, 1 BCBA, 1 Instructional Coach/Inclusion Facilitator, 2 Elem Health & Wellness Teachers, 3 Paraprofessionals

Increase for Charter School, Vocational Technical School and Special  Education tuition costs of $789,358

Due the economy beginning to rebound from the effects of the Covid-19 pandemic overall Revenues are expected to steadily increase.  Earned Income Tax revenue increase by $2,312,500 and Real Estate transfer taxes increase by $475,000.  The district Basic Education Subsidy from the State reflects a $300,000 increase.

The total use of available Fund Balance Reserves used to balance the 2021/2022 budget was $2,967,316  broken down as:

$373,000 in PSERS Fund Balance Reserves

$594,319 in Debt Service Fund Balance Reserves

$1,500,000 in Unreserved Fund Balance

$500,000 in Covid 19 Reserves

To give taxpayers some additional relief the School Board again approved an extension of the tax payment discount period until 9/3/21, and the ability for taxpayers to pay up until December 31 without a late penalty applied. In addition, the installment payment option was expanded to include four payments with due dates on 9/15, 10/15, 11/15 and 12/15. A property tax rebate program will be instituted for qualified taxpayers. The property tax rebate program could provide for up to 30% of the Pennsylvania Property Tax Rebate value for those in greatest need of financial help. See link at top of the page for more information.

The total uses of Reserves are equal to 2.54% of the approved Expenditures for the 2021-2022 fiscal year.