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2022-2023 Budget Approved

The Board approved a balanced budget of $364,212,511 for the 2022-2023 school year, including a 1.5% millage rate increase. The district's 2022-2023 millage rate is 127.84. The final budget may be reviewed in its entirety here.

Central Bucks School District's Chief Operating Officer, Tara B. G. Houser, explained that this final budget looks dramatically different than the proposed final budget presented to the board just a month ago, as the district's administrative team worked under her leadership to close a $10 million deficit. Ms. Houser noted that this was accomplished through a $5 million reduction in expenditures, the use of 3.5 million in ESSER funds, increased revenue projections associated with a strong real estate market and federal interest rate increases, and a $1,176,748 transfer from the capital projects fund. She noted that while fund transfers are generally to be avoided, she is comfortable recommending this option due to the fact that this area of the district's finances is, "properly funded."

The remaining $1.1 million deficit was closed with use of a conservative 1.5% millage rate increase, well below the 3.4% increase allowable under Act 1. The 3.4% figure is the maximum tax increase allowable without seeking a public referendum, as established by the commonwealth annually. The 2022-2023 millage rate will result in an increase of approximately $76 over the 2021-2022 tax bill for the average homeowner.

“This final budget is fair, conservative, safe and appropriate," Houser said before completing her presentation in advance of the board's vote on June 14. Having recently been appointed as the district's senior financial administrator, Ms. Houser explained that there is still a great deal of work to be done as she reviews all of the district's finances over the next six to eight months. This work will inform three, five, and seven-year budget outlooks to guide future financial decisions and planning by the board and administration.

Review the budget's progress to approval and download previous presentations on the district's website here.