The Board of School Directors of the Allegheny Valley School District approved the 2021-2022 Final General Fund Operating Budget for the 2021-2022 school year in the amount of $22,873,065. The Budget represents a decrease of 1% or $229,913 less than the 2020-2021 Budget of $23,102,978 (excluding a budgeted transfer of $3,500,000 to capital reserve). Local revenue for this Proposed Final Budget will be provided by a real estate tax of 20.8377 mills, one half of 1% earned income tax, one-half of 1% real estate transfer tax and one-half of $10 occupation privilege tax.
• The major revenue driver for the District is the Real Estate Tax Assessments, and local revenues account for 69% of total revenues.
• The other two major revenues - State (26.85%) and Federal (2.8%) subsidies - reflect balance of income for the District. Federal revenues increased with the American Recovery Plan
• The 2021-22 General Fund Expenditure Budget total is $22,873,065. This total is a decrease in Expenditures of $229,913 or 1% from the prior year, excluding a transfer of $3,500,000 to the Capital Reserve Fund for future capital improvements in the District.
• The instructional budget represents approximately half of all costs to the District.
• Increases in the budget is attributed to costs of: retirement, healthcare, contractual obligations with salaries, special education and debt service.
Overall, the Budget continues to reflect the uncertainty of local revenues with the impact of COVID-19 on the economy.