Proposed Plum school budget holds tax line

Plum Borough School District’s 2023-24 general fund budget does not call for an increase in the real estate tax rate.

The proposed spending plan will be presented for adoption as the final budget at a school board meeting scheduled for 7 p.m. May 30 in the high school library. The budget may be amended both before and after its final adoption.

As presented, the budget holds the real estate tax rate at 22.0241 mills, meaning property owners will pay $2,202.41 per $100,000 of assessed value.

The state’s Act 1 index, which is used to determine the maximum increases for each tax the school district levies, is 5.4% for the coming fiscal year. If implemented to the limit, the real estate tax could have risen as high as 23.2134 mills.

In its current form, the budget includes total estimated revenues and other financing sources of just over $70.9 million, matching expenditures. Revenue from local sources is projected at slightly more than $39.9 million, including $32.3 million generated by collection of real estate taxes.

From state sources, revenue is estimated at $29.01 million, which includes basic education funding of $14.03 million. Another $5.93 million goes toward offsetting the district’s retirement contributions.

Of the total expenditures for 2023-24, outlays for instruction represent the largest portion, at $40.27 million. Balancing revenues with expenditures leaves a total committed, assigned and unassigned fund balance and budgetary reserve estimated at just over $11 million.

The proposed final budget is available for public inspection at the school district offices, 900 Elicker Road, and by downloading the document.