News Tyrone Daily Herald Archives

Tyrone Area School Board approves 2008-09 general fund budget with no tax increase

The Tyrone Area School Board convened last evening at the elementary school to conduct its June business. Board member Amy Stever was absent from the meeting.
Topping the agenda was the unanimous approval of the three-county school district’s 2008-09 general fund budget. The budget reflected total revenues in the amount of $21,009,849 and total expenditures in the amount of $21,782,880.
Tyrone Area School District Business Administrator Cathy Peachey said that the school district felt it had a “very strong” financial position for the coming school year.
“The board found that looking at the revenues and expenditures in our fund balance, which the state limits us as far as what we can carry over as far as fund balance, we determined we could go without a tax increase for this year based on that,” stated Peachey.
The numbers based on tax levies on real estate, by which adjustments reflect changes in market value only as required by the State Tax Equalization Board, are as follows: Blair County – 92.71 mills (no mill increase), $92.71/$1,000 assessed value; Centre County – 21.06 mills (0.84 mill increase), $21.06/$1,000 assessed value; Huntingdon County – 68.32 mills (0.19 mill decrease), $68.32/$1,000 assessed value.
The Earned Income Act 511 Tax is 0.65 percent.
Board members also approved the athletic budget in the amount of $366,974, along with approving the Homestead and Farmstead Exclusion Resolution that offers tax breaks to school district tax payers who qualify.
Along with the budget, the school board unanimously approved the transfer of $500,000 from the general fund to the capital reserve fund for the installation of a new Heating, Ventilation, and Air Condition (HVAC) system in the school district.
The school board and Student Activities & Services Committee Chairperson Brian Bressler also recognized two Tyrone Area High School track and field athletes for their accomplishments at this year’s PIAA state track and field meet in Shippensburg. Eleventh graders Ben Ingle and Kyle Updyke both earned medals at the state meet this year. Ingle placed sixth in the 1,600 meters with a school record breaking time of 4:23.68, and Updyke placed seventh in the high jump with a leap of 6’2″.
In other business, the board approved to enter a food service contract with Nutrition, Inc. for the 2008-09 school year with a guaranteed profit of $450, including an increase in meal prices. The price increases are ten cents for breakfast, twenty cents for lunch, and a ten percent increase for a la carte.
Board members approved to establish a student activity fund for the Mock Trial Team, along with approving the 2008-09 textbook and workbook order in the total amount of $85,570.58.
The Tyrone Area School Board canceled its scheduled July 2008 board meetings, but may request one meeting near the end of July related to additional school district hirings. The time and date will be advertised if needed.