North Penn School District 2020-2021 Budget Update June 9, 2020 - - PowerPoint PPT Presentation

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Mar 02, 2024 103 likes •247 views

North Penn School District 2020-2021 Budget Update June 9, 2020 Budget Timeline Adoption of Proposed Final Budget 5/12 Board Worksession Adoption of Final Budget 6/18 Board Action Meeting 2.6% $6.2 M Deficit Budget Budget Comparison

SLIDE 1

North Penn School District

2020-2021 Budget Update June 9, 2020

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5/12 Adoption of Proposed Final Budget Board Worksession 6/18 Adoption of Final Budget Board Action Meeting

Budget Timeline

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2.6%

SLIDE 4

$6.2 M

Deficit Budget

SLIDE 5

Budget Comparison

Fiscal Year Budget Revenues Expenses Surplus (Deficit) 2020-2021 Current $271,907,338 $278,122,120

$6,214,782

2020-2021 Preliminary $269,635,219 $282,498,098

$12,862,879

2019-2020 $267,208,014 $273,977,289

$6,769,275

$ Change $4,699,324 $4,144,831

$554,493

% Change 1.76% 1.51%

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State Budget Update

BEF funded at 2019-20 level
$11,055,329
SEF funded at 2019-20 level
$6,638,022
RTL funded at 2019-20 level
$577,539

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State Budget Update

CARES ESSER funding
$984,263
Property Tax Relief Allocation
Using $300 million in Federal money to cover shortfall
School Safety and Security Grant
$975,785
Eliminates PCCD Part B grants of $25,000

SLIDE 8

State Budget Update

CARES and School Safety Proceeds
One-time money
Supplements state budget, does not supplant
Very flexible uses
New purchases at NP
Reflected in budget as both new revenue and expenses

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School Safety and Security Grant

Purchasing cleaning and sanitization supplies
Purchasing PPE
Modification of existing areas to mitigate the spread of infectious

disease

Providing mental health services and supports for students

affected by COVID-19

Purchasing educational technology for distance learning
Other health and safety programs, items or services necessary to

address COVID-19

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Tax Payment Periods

Historical
July and August - 2% discount
September and October - face amount
November and December - 10% penalty
After December - turned over to Tax Claim for

delinquent collection

Considerations
No change to discount or face amount period
Reduce penalty for November and December

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Budget Scenario

Current Budget Deficit

$6,214,782

Budgetary Reserve $1,500,000 *Potential Positive Variances (0.50%) $2,750,147 Potential Ending Deficit

$1,964,635

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6.40 12.80 19.20 25.60 32.00 North Penn County Average

Tax Rates

18% Below County Average

5th Lowest in County

SLIDE 14

Discussion