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BUDGET & BOARD
UPDATE

District Earns PR Maintains Millage Rate for Third Year in a Row
Bond Rating
Upgrade The Pine-Richland School Board approved the gen- 2016-2017 Budgeted Revenue
eral fund budget for the 2016-2017 school year with
Moody’s Investors Ser- total expenditures of $80,194,586 and total revenues State Sources— Federal Sources—$ 297,870
vice recently conducted of $80,032,341 with a fund balance utilization of $17,000,282 Other Sources—$500
a bond rating review of $162,245 for capital improvements. In addition, the
the Pine-Richland School board maintained the millage rate and established the Utilization of
District. The underly- following tax rates for the fiscal year 2016-2017: Fund Balance —
ing bond rating was $162,245
upgraded on May 6,
2016 to Aa3 from A1. • Real Estate Tax rate of 19.2083 mills Local Sources —
Moody’s indicated the (no increase over 2013-2014, 2014-2015 62,733,689
upgrade was a result of and 2015-2016)
reserves and liquidity, 2016-2017 Budgeted Expenditures
strong management • Earned Income Tax of 0.5 percent
with conservative prac- Financing/Transfers
tices, and large tax base • Act 511 Per Capita Tax of $5 for individuals age $4,640,000
with modest growth. 18 and older
Additionally, Moody’s Fees/Interest & Reserve Salaries
noted a further upgrade • Pennsylvania School Code Per Capita Tax of $5,254,140 $31,239,207
could result with a re- $5 for individuals age 18 & older
duction in debt burden Equipment Benefits—
and growth in tax base. COST-SAVING MEASURES $1,820,176 $20,877,221
Supplies/Books
SCHOOL The district has addressed the financial climate and $2,681,638
BOARD has looked at several alternative revenue sources and
MEETINGS cost-saving measures for the past few years. Some Other Services
TELEVISED of them have included: $7,007,290

The PR School Board Property Services
regular and planning $2,566,932
meetings air on PRTV, Professional Services
which is available on Com- $4,105,983
munications Channel 404
and on Armstrong Cable Alternative Revenue Sources Parking Fees 2015-2016 Budgeted Revenue
Channel 211. Visit www. Energy Curtailment Program Rebates & Commissions
pinerichland.org for a Facility Rental Agreements Scoreboard Advertisements Federal Sources—$314,737
listing of the tapings. You Grants & Donations Student Activity Fees Other Sources
can also view the videos of
meetings online the next During 2015-2016, the school district refunded State Sources—
day. In addition, agendas one bond issue which shortened the term of the bond $15,671,764
and meeting minutes are issue. The district will continue to monitor each debt
available under the school instrument for refunding opportunities to achieve Utilization of
board tab on the website. savings and lower interest costs, if possible. Assigned Fund
Balance
INDIVIDUAL TAXPAYER SAVINGS $162,245
OPPORTUNITIES
Local Sources — $59,337,186

• The board approved the Homestead and Farmstead 2015-2016 Budgeted Expenditures
Exclusion Resolution for the upcoming tax year.
The resolution provides for property tax reduction Fees/Interest & Reserve Financing/Transfers — $4,265,000
through a “homestead or farmstead exclusion,” $5,914,393
which is provided by the state gaming industry/
casinos. Residents should have an application on Equipment —
file with Allegheny County indicating the house $1,838,392
they live in is their homestead. They will also receive
a reduction in assessed value for their school tax. Supplies/Books
Each approved homestead will receive a real estate $2,618,457
tax reduction amount of $188.20.
Other Services Salaries
$6,793,995 $30,427,211
Benefits—
Property Services $18,820,343
$2,138,725

Professional Services
$3,928,846

28 FOCUSED ON LEARNING