Finance committee hears financial updates: meritorious budget award, PCERS rate and insurance premium discount
January 03, 2025 | North Penn SD, School Districts, Pennsylvania
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
The finance committee received several informational items from district staff highlighted as good news for the current fiscal year.
Staff announced North Penn received the Association of School Business Officials International Meritorious Budget Award (MBA) for the 10th consecutive year for its 2024'025 budget book. The district's budget book is posted in BoardDocs and staff encouraged stakeholders to consult it for detailed financial information.
Staff also reported the Pennsylvania school employees' pension fund (PCERS) employer retirement contribution rate for 2025'026 was certified at 34% (up modestly from 33.9% projected), lower than some earlier projections. Staff noted that a majority of the certified rate reflects long-term unfunded liability amortization.
Finally, the district qualified for a 5% workers' compensation premium discount through the School District Insurance Consortium (SDIC) based on a certified safety committee; staff reported the discount equates to $45,264 in premium savings and publicly thanked committee chair Dan Linsky and staff member Kim Lister for their work on the certification.
Staff announced North Penn received the Association of School Business Officials International Meritorious Budget Award (MBA) for the 10th consecutive year for its 2024'025 budget book. The district's budget book is posted in BoardDocs and staff encouraged stakeholders to consult it for detailed financial information.
Staff also reported the Pennsylvania school employees' pension fund (PCERS) employer retirement contribution rate for 2025'026 was certified at 34% (up modestly from 33.9% projected), lower than some earlier projections. Staff noted that a majority of the certified rate reflects long-term unfunded liability amortization.
Finally, the district qualified for a 5% workers' compensation premium discount through the School District Insurance Consortium (SDIC) based on a certified safety committee; staff reported the discount equates to $45,264 in premium savings and publicly thanked committee chair Dan Linsky and staff member Kim Lister for their work on the certification.
Don't Miss a Word: See the Full Meeting!
Go beyond summaries. Unlock every video, transcript, and key insight with a Founder Membership.
✓
Get instant access to full meeting videos
✓
Search and clip any phrase from complete transcripts
✓
Receive AI-powered summaries & custom alerts
✓
Enjoy lifetime, unrestricted access to government data
30-day money-back guarantee
