School Board Approves $80.7M Budget, No Tax Increase

The Board of School Directors in Great Valley voted 8-1 Monday night to adopt an $80.7 million budget for the 2013-14 school year. The budget represents no change in the tax rate for residents of the district.

The budget equals a $4,476 tax bill for the average home, assessed at $228,505. Millage remains at 19.59 mills.

"[This] would be the first time since 1984-85 that the district would have no tax increase," superintendent Alan Lonoconus said before the vote. "It would be the first time in my career, in any of my districts, that I've been able to come to the board and say, 'I can offer a zero tax increase.'"

Despite forgoing a tax hike, the budget spends 5.08 percent more than the 2012-13 budget, and draws on $2.6 million in reserve funds to help cover the difference. Increased revenue from property taxes and home sales will also help to make up the difference, Lonoconus said. 

The audience in the district office Monday night was small compared to the crowd at last year's budget adoption meeting, which nearly filled the K.D. Markley Elementary School gym.

No members of the audience spoke up during the pre-vote public comment portion of the meeting. The lone dissenting board vote came from Ted Leisenring, who suggested the district follow the example of Radnor School District and cut taxes after years of tax increases and surpluses.

During his presentation, Lonoconus brought up a chart showing the capital reserve fund balance bottoming out in the 2017-2018 school year. 

"Long range, we hope the future board will allocate a portion of the debt savings ... from 2018-19, when that whole half of that debt service drops down, and be able to put some impact back into the capital improvement fund," Lonoconus said.

View the attached photos to see the superintendent's presentation, including 5-year plan.