Business & Finance

The Perkiomen Valley School District Board of Directors approved a General Fund Budget in the amount of $120,487,986 on June 13, 2022.
The 2022/2023 General Fund Budget includes a tax increase of 1.73%, which is below the 3.4% Act 1 Index. The Board had agreed not to exceed the Act 1 Index at the start of the budget process. The real estate tax millage rate effective July 1, 2022 will be 35.45 mills.

In developing the 2022/2023 General Fund Budget the board and administration continued to consider short and long term fiscal strategies in light of the current economic environment and global conditions. Local and world issues including supply chain shortages continue to drive rising costs for supplies and fossil fuels. The approved budget will allow the District to meet the needs of students while being fiscally responsible.

Revenue highlights include:

  • Earned Income Tax budgeted to exceed pre pandemic levels.
  • Budgeted State subsidy increases based upon multi year averages.
  • Interest earnings on investments as a steadily increasing alternative revenue source to help balance the budget.

Overall, the Revenue budget grew by almost $2.9 million dollars (about 2.5% increase from the 2021/22 fiscal year).

Expenditure highlights include:

  • An addition of 2.0 new Special Education positions (one for MS EAST and one for MS WEST)
  • Contracted salary increases based upon labor agreements ($1.3 million netted against “True up costs”)
  • Mandatory PSERS increases ($700k +)
  • Fossil fuel increases ($500K +)
  • Software ($160K) and supplies ($72k)

Overall, the Expenditures budget grew by almost $3.6 million dollars (about 3.04% increase from the 21.22 fiscal year).

The District used available Fund Balance Reserves to balance the 2022/2023 budget as approved below: 

The total use of Fund Balance Reserves is equal to 1.95% of the approved Expenditures for the 2022-2023 fiscal year.

The District opted to return to pre pandemic terms for the payment of Real Estate taxes including the reinstatement of a penalty for taxes paid after the due date. The District also approved the continuation for qualified taxpayers to participate in the Property Tax Rebate Program