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East Lycoming School District

2016-17 Preliminary General Fund Budget


The 2016-17 Preliminary General Fund Budget of the East Lycoming School District was adopted by the School Board on January 26, 2016 and totals $24,896,036.  A January preliminary budget is required for the district to apply for exceptions as provided in Act 1 of 2006.  The district will apply for the retirement contribution exception.


Due to the current state budget impasse, the district’s 2016-17 preliminary budget is presented with the fate of 2015-16 funding still undetermined.  The state budget impasse also creates a $13.5 million question mark in the district’s 2016-17 budget. 


As outlined in the district’s five-year financial forecast, the district will also be using committed fund balance (savings) in the amount of $455,286 to balance the 2016-17 budget.  Committed fund balance will be used over the next five years to phase in the increase in retirement contributions and minimize the need for higher local taxes.


As adopted, the budget represents a gross increase of $1,191,989 or 5.03% over the current year’s budget.  The expenditure increases are accounted for in four main areas:


Salary and Wages:  $237,920

Healthcare Expense:  $120,491

PA School Retirement System: $489,598

Special Education Services:  $75,223

Other Professional Services:  $79,349

Student Transportation:  $51,375

Debt Service Payments: $77,049


For the district to meet its fiscal responsibilities, the Real Estate Tax Rate will increase to 13.71 mills for the 2016-17 Preliminary General Fund Budget representing a .95 mill increase or 7.45%.  This increase serves solely as a starting point in the budget process and will be reduced based on revised revenue and expenditure estimates until the final budget is passed in June.


The preliminary local taxes for the 2016-17 fiscal year are as follows:         


     Real Estate Tax                           13.71 mills       

     Earned Income Tax                            1.20%

     Real Estate Transfer Tax                      .50%       



 



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