Franklin Regional adopts 2023-24 budget with 2-mill tax hike

Franklin Regional school directors approved a $66.6 million budget for the 2023-24 school year that includes a 2-mill tax hike.

The budget will bring in $66.27 million in projected revenue. In the past few years, district officials have offset budget gaps using money earmarked to fund annual state-mandated increases in teacher retirement contributions, as well as to phase in debt service related to recent construction and renovations at the former Sloan Elementary campus.

In the coming year, business director Jon Perry said the district will use about $290,000 from its unassigned fund balance to plug the budget gap, down from an estimated $412,000 last month.

Some expenditures have risen since the board adopted a proposed final budget in May.

“We talked earlier about expanding counseling services and adding a third consultant,” Perry said at the board’s June 19 meeting. “That will add about $75,000 to the expenditure side, but it’s being funded through our (American Rescue Plan Elementary and Secondary School Emergency Relief) grant and it won’t impact the budget.”

Tuition for students attending nondistrict schools also increased by about $100,000.

Overall, Perry said, while the budget’s expenditures grew by just over $148,000, its revenues increased by $270,447.

The budget includes a 2-mill tax hike, which Perry said would equate to an additional $69 per year for a property owner at the median property value of $310,000.

“Our allowable increase (according to the state’s Act I index) would’ve been 4.36 mills,” Perry said.

A mill is expected to generate about $355,000 in the coming school year.

The board approved the budget in a 7-1 vote. Director Traci Eshelman Ramey voted no, and director Vince Azzolina was not present.