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6/22/2007: General Fund Budget Approved for 2007-08 School Year

The Souderton Area Board of School Directors approved the district's General Fund budget for the 2007-08 school year at their June 20, 2007 meeting. The $96,341,606 budget contains an increase of .83 mills which represents a 3.5% increase over the 2006-07 rate. The new millage rate is 24.46 mills.

An average taxpayer's home assessed at $150,000 will pay an increase of $125 over the same assessed home for the 2006-07 school year.

Local revenues make up 78.1% of all sources for the approved budget. The remaining sources of the budget include 18.6% from the State and less than 1% from Federal sources.

The Souderton Area Board of School Directors also approved the use of $2,310,657 of existing Fund Balance to help reduce the millage impact.

New to this budget will be an installment payment option for Real Estate Taxes, as mandated by Act 1 of 2006. It is offered only to those Homestead/Farmstead approved properties as defined under Act 1 of 2006.

"The budget will allow the district to maintain current academic programs and services," reported Brenda J. Bray, director of business. The budget reflects the retirements of 10 professional staff members and an increase of 5.9 professional staff members.