Oxford School Board adopts a proposed final budget
05/02/2016 12:55PM ● Published by Steven Hoffman
At its April 19 meeting, the Oxford School Board unanimously approved a $65,663,336 proposed final budget for the 2016-2017 school year. The budget is now available for review and comment by the public until the school board adopts a final budget in June.
School board member Joseph Tighe, who serves on the district's Finance and Budget Committee, provided an update about the budget picture. Tighe said that the expenditures in the budget are projected to be $65,663,336, or about $ 2.2 million more than the current school year. Most of the expenditure increase can be attributed to district's contribution to Public School Employees' Retirement System (PSERS).
Tighe said that the administration is recommending a one percent increase to balance the budget. That would increase the millage rate from 30.5347 to 30.84 mills.
Tighe noted that many other districts in the area have approved preliminary budgets with increases in the range of three-percent.
“The administration is doing a pretty good job of recommending just a one-percent increase,” Tighe said, explaining that the Act 1 Index limit for Oxford is 3.3 percent.
The average taxpayer in the district would see an increase of about $40 in the tax bill if the district approves the budget as is.
The school board is expected to adopt the final budget for 2016-2017 at a meeting in June.
In other business at the April 19 meeting:
~ New school board member Rebecca Fetterolf, who was just selected to fill a vacancy on the board, has now been appointed to be the school board's representative on the Chester County School Boards Legislative Council.
~ The board approved a $107,892 contract with Long's Asphalt, Inc. to install a new parking lot and associated stormwater management work at the Elk Ridge School.
~ The school board has meetings scheduled for Tuesday, May 10 and Tuesday, May 17. Both meetings begin at 7 p.m. in the Administration Building.