The Board of School Directors of the Allegheny Valley School District approved the 2022-2023 Final General Fund Operating Budget for the 2022-2023 school year in the amount of $23,808,722. The Budget represents an increase of 4.09%, or $935,657, more than the 2021-2022 Budget of $22,873,065. Local revenue for this Final Budget will be provided by a real estate tax of 20.8377 mills unchanged from the prior year, one-half of 1% earned income tax, one-half of 1% real estate transfer tax, and one-half of $10 occupation privilege tax.
Revenues:
• The major revenue driver for the District is the Real Estate Tax Assessments, and local revenues account for 69.82% of total revenues.
• The other two major revenues - State (26.87%) and Federal (3.31%) subsidies - reflect the balance of income for the District. Federal revenues increased with the American Recovery Plan (ARP).
Expenditures:
• The 2022-23 General Fund Expenditure Budget total is $23,808,722. This total is an increase in Expenditures of $935,657.
• The instructional budget represents approximately half of all costs to the District.
• Increases in the budget are attributed to costs of retirement, healthcare, contractual obligations with salaries, special education and debt service.
Overall, the Budget was balanced using the increased federal ESSER funding.