Franklin Regional School District reports $1.7M increase in tax collections
April 27, 2025 | Franklin Regional SD, School Districts, Pennsylvania
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During the recent Franklin Regional School Board meeting held on April 27, 2025, financial health and budgetary updates took center stage, highlighting the district's fiscal performance and future planning. The meeting provided a comprehensive overview of the district's financial status, revealing a positive trend with a reported surplus of $221,000 for the current fiscal year, consistent with previous years.
The discussion included a detailed examination of various financial components, such as food service revenues, expenses, and subsidies, which were summarized for the board's efficiency. Notably, the district's capital reserve, technology, and capital improvement funds were also reviewed, indicating a focus on long-term financial planning and resource allocation.
A significant point of discussion was the $1.7 million increase in tax collections, primarily attributed to an increase in the millage rate rather than an influx of new residents or businesses. The board learned that real estate taxes accounted for approximately $1.2 million of this increase, with modest growth in assessed property values due to new home construction. Additionally, earned income taxes rose by $272,000, reflecting wage growth among residents, while delinquent real estate collections contributed another $239,000, influenced by collection timing and county processes.
The meeting underscored the collaborative efforts of the board and district staff in managing the budget effectively, with commendations for the financial team’s performance. The positive audit results, which included an unmodified opinion and no compliance findings, further reinforced the district's sound financial management.
As the board moves forward, the discussions from this meeting will likely inform future budgetary decisions and strategic planning, ensuring that the district continues to meet its financial obligations while supporting educational initiatives. The focus on monitoring and adapting operations as necessary was emphasized as a key procedural approach to maintaining fiscal responsibility.
The discussion included a detailed examination of various financial components, such as food service revenues, expenses, and subsidies, which were summarized for the board's efficiency. Notably, the district's capital reserve, technology, and capital improvement funds were also reviewed, indicating a focus on long-term financial planning and resource allocation.
A significant point of discussion was the $1.7 million increase in tax collections, primarily attributed to an increase in the millage rate rather than an influx of new residents or businesses. The board learned that real estate taxes accounted for approximately $1.2 million of this increase, with modest growth in assessed property values due to new home construction. Additionally, earned income taxes rose by $272,000, reflecting wage growth among residents, while delinquent real estate collections contributed another $239,000, influenced by collection timing and county processes.
The meeting underscored the collaborative efforts of the board and district staff in managing the budget effectively, with commendations for the financial team’s performance. The positive audit results, which included an unmodified opinion and no compliance findings, further reinforced the district's sound financial management.
As the board moves forward, the discussions from this meeting will likely inform future budgetary decisions and strategic planning, ensuring that the district continues to meet its financial obligations while supporting educational initiatives. The focus on monitoring and adapting operations as necessary was emphasized as a key procedural approach to maintaining fiscal responsibility.
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