Community Corner
HATBORO-HORSHAM ADOPTS FINAL BUDGET THAT BALANCES NEEDS OF STUDENTS AND TAX PAYERS AT JUNE 16TH BOARD MEETING
As the result of months of diligent analysis and financial planning, Hatboro-Horsham School Board approved a 2014-15 final budget that achieves a balance between its educational mission and the needs of taxpayers at the June 16th meeting. The $92,779,158 budget keeps taxes within the Act 1 Index, marking the eighth year in a row the district stayed within the index without seeking allowable exceptions.
Act 1 is the legislation that establishes tax caps for school districts each year. Districts that exceed the index must seek exceptions from the state or seek voter approval through a referendum. School Board members made a decision early in the budget process to create a budget that adhered to the 2.1 percent index set for the 2014-2015 school year.
To achieve this goal, the district used a budget development process that focused on thorough and advanced planning, strategic data and trend analysis, prioritization of needs, comprehensive cost reduction strategies, and creative revenue generating alternatives. “This approach has enabled the district to keep annual millage increases to a minimum, while maintaining high quality educational programs and a very solid financial position,” stressed Director of Business Affairs Robert Reichert.
Find out what's happening in Hatboro-Horshamwith free, real-time updates from Patch.
Over the past 13 years, the district’s average annual tax increase and budget increases have been second lowest in the county. Under the new budget, the average tax increase will be approximately $65.74 for Hatboro residents the average tax increase will be approximately $96.88 for Horsham residents.
The Hatboro-Horsham School District received notice from the state that it would receive $2.3 million in revenues generated by Pennsylvania gambling proceeds to fund tax relief for and estimated 8,176 qualified residential homeowners. Homeowners with qualified properties will receive a $284.53 reduction in their property taxes that will be noted on their tax bill when it is delivered over the summer.
