Penn Hills School District looks to reduce projected deficit
Staff cuts and debt refinancing might be required to balance a proposed $81 million budget in the Penn Hills School District for 2013-14.
The school board's finance committee next week will decide how to deal with a projected $5 million deficit. The school board will meet May 30 to decide between three budget scenarios, all of which will require more tweaking before the budget is balanced.
The best-case scenario, presented by district business director Richard Liberto at a finance committee meeting last month, was a mix of staff cuts and debt restructuring that left the district with a $925,000 deficit.
School board members did not return calls for comment on the budget or to offer more details on the potential cuts.
Liberto said if the board opted for the “best-case” scenario, the deficit would be made up either through additional budget cuts or additional debt refinancing.
Two other budget scenarios, which use only staff cuts or debt restructuring, show projected deficits of about $3 million.
The district's fund balance stands at about $3 million.
One potential bright spot is the final dollar amount that would come from restructuring the district's 2009 debt load: Liberto said he would have a better idea of the final amount by this past Monday's finance committee meeting, which took place after this paper's deadline. Visit YourPennHills.com for the latest updates.
Restructuring the 2009 debt would be a one-year fix and could alleviate $2.3 million to $4 million of the deficit, Liberto said last month.
The district must adopt a balanced budget by June 30. This year's budget is $72 million.
The school board's next meeting will take place May 30 at 7:30 p.m. at Linton Middle School, located at 250 Aster St.
Patrick Varine is an editor for Trib Total Media. He can be reached at 412-320-7845 or email@example.com.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Photo gallery: ‘Deja Vu V’ fashion show
- PHSD kicks off year with new elementary
- Penn Hills will auction off cars, tires, tub grinder
- Photo gallery: BOB group helps Penn Hills High School students start garden
- Lime Hollow roadwork will begin Tuesday in Penn Hills
- Penn Hills School board re-hires tennis coach
- Imagine keeps an eye on charter court case
- Detroit man dies following Frankstown Road shooting