Yough School Board OKs budget without tax hike
Yough School District taxpayers will not see an increase in property tax if the proposed budget approved on Thursday night is adopted as presented.
The school board approved a proposed 2011-12 spending plan with balanced revenues and expenditures of $27,704,844 by a unanimous vote, keeping the tax rate of 75.6 mills.
The plan assumes a 92 percent collection rate on real estate taxes, with a value per mil of $121,141 and total assessment value of $131,674,820.
The proposed budget will be available for public comment for 30 days. The board is expected to adopt the final budget on June 16.
In another matter, the board received a report on the audit of accounting practices for the 2009-10 fiscal year.
Joel Kunkle of the accounting firm Herbein & Co. Pittsburgh, said, "Our opinion is an unqualified opinion, meaning that there are no material misstatements in your financial statements based upon our audit."
Kunkle noted that for the year ended June 30, 2010, revenues exceeded expenditures by $1,887,000, which included about $1.7 million in American Recovery & Reconciliation Act funds.
"Without the ARRA funds, you still would have had a net profit or an excess of revenues over expenditures of about $200,000. A lot of school districts are not in that position," he said.