The Moon Area school board voted to balance the district's 2019-2020 budget by raising the property tax rate by 0.98 mills and by using money from its fund balance.
The budget calls for expenditures of $80.9 million with an expected revenue of $79.5 million causing a shortfall of $1,461,247. The approved real estate tax is 22.10 mills. The budget was approved unanimously on June 24.
"The district does have a fund balance, but that amount is to be determined," explained Jill Regan, director of fiscal and school services. "It is estimated to be $4 million. The district will use these funds to balance the 2019-2020 budget. Emergency expenses are evaluated as these happen. Capital Reserve funds would be used in this case depending on the amount."
District officials had anticipated the need to dip into the fund balance to cover the coming school year's expenses, with Ms. Regan, proposing the idea earlier this year.
The Moon Area School District includes both Moon and Crescent townships.
Susan Schmeichel, freelance writer: suburbanliving@post-gazette.com.
First Published: July 1, 2019, 10:47 p.m.
