Coatesville Area School District continues to work toward closing a gap between expenses and revenues in the 2021-22 budget.
Director of Business Administration Lori Diefenderfer and Superintendent Tomas Hanna on May 11 told the finance committee prior to the board meeting the latest figures show revenues of $178.2 million without a tax increase, and expenses of $185.1 million. That gap of $6.9 million between expenses and revenues would be reduced to $2.7 million if the board chooses to increase the tax rate by the 3.9% allowed by the state.
The 3.9% tax hike would raise the current 38.2018 millage rate to 39.6917. In the case of a property assessed at $100,000, the tax increase would be $148.99.
Coatesville Area school board approved the preliminary 2021-22 budget during the April 27 board meeting in a 7-1 vote with Mary Ann Harris opposed.
The preliminary budget has not changed from the version presented to the finance committee two weeks ago, but officials expect to revise the spending plan between now and final approval at a special meeting June 8.
The budget shows expenses of $187 million and revenues of $178.2 million with no tax increase. By increasing the tax rate 3.9% â the amount the state allows the district under the Act 1 index â the budget gap can be narrowed to $5.6 million.
This raises the real estate tax rate from 38.2018 mills to 39.6917. For a property assessed at $100,000, this translates to a tax increase of $149.