Board unveils final 2526 budget with reduced tax increase and adjusted revenues

November 06, 2024 | Northwestern Lehigh SD, School Districts, Pennsylvania


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Board unveils final 2526 budget with reduced tax increase and adjusted revenues
The Northwestern Lehigh School District held a workshop meeting on November 6, 2024, to discuss the final budget for the 2025-2026 school year. The meeting focused on the budget's development, key changes, and implications for local taxpayers.

The first item on the agenda was the presentation of the final budget for the 2025-2026 school year, which includes a 3.5% tax increase, a reduction from the previously proposed 4% increase. This adjustment was attributed to a decrease in real estate taxes by $325,000, resulting from a slight decline in assessed values and the board's decision to lower the tax increase. The overall budget saw a slight increase in the use of fund balance, with revenues estimated at $52,774,748 and expenditures at $259,399, leading to a budget shortfall of $2,430,000.

Key highlights from the budget presentation included an increase in the Homestead Farmstead allocation, which rose by $147,823. This change will result in higher homestead relief for residents, with the amount increasing from $239.66 to $274.26, and farmstead relief rising from $30.98 to $35.39. The budget relies heavily on local revenues, accounting for 70.1% of total revenues, while state revenues contribute 29.3% and federal revenues a mere 0.6%.

The meeting concluded with a recap of the budget's financials and a reminder of the upcoming actions required for final approval, including the commitment of funds from the previous year's budget and the resolution for Homestead Farmstead relief. The board members were invited to ask questions or provide comments, indicating a collaborative approach to finalizing the budget before the next meeting.

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