District Adopts 2013 General Fund Budget
PITTSBURGH, December 19, 2012 – Superintendent Linda S. Lane released the District’s Preliminary 2013 Budget to the Board and public November 14, 2012. This evening the Board of Public Education adopted the 2013 General Fund Budget of $521.8 million, a decrease of $8.0 million, or 1.5 percent, from the adopted 2012 General Fund Budget.
“Due to the steps taken by our Board over the past school year we have made close to $50 million of reductions,” said Superintendent Linda Lane. “Even with these reductions we still face a number of increasing expenditures that are beyond our control, such as employee health care and pension costs, rising utilities and a tax base that is not growing. Despite these challenges, we remain committed to living within our means and using our resources wisely so that we can serve our students better and provide them the world class education they deserve.”
The budget includes an operating deficit of $9.8 million, requiring the District to spend resources from its dwindling fund balance. This fund balance is expected to decline to $56.2 million at the end of the 2013 from $66.0 million at the end of 2012. Since June 2011 to July 2012 the District has taken several steps to address its fiscal challenges including school closures, class size and feeder pattern adjustments, as well as staff reductions, resulting in $50 million in reductions.
Earlier this month the District recommended the Board set a tax rate that would raise property tax revenue, after 11 years of no increase, to create a reserve fund to cover the cost of real estate appeals. On December 10, 2012, Judge R. Stanton Wettick provided an extension to the County’s reassessment timeline and the District’s timeline for setting the millage rate and Homestead Exemption from gaming revenues. The Board is anticipated to vote on the millage and homestead exemption at its January 23, 2013 Legislative Meeting.