Council Rock School District has shared its final General Fund Budget for the 2024-25 school year ahead of a scheduled vote by the school board on Thursday.
It can be viewed at www.crsd.org/departments/business/finances/2024-2025-budget but it includes the following: $277,641,099 in revenues, $279,588,626 in expenditures and a deficit of $1,947,527.
Deficits, officials explained, are an important factor in order to avoid over-budgeting for revenue. Over the course of at least the last 15 years, Council Rock has been budgeting for a deficit. The 2024-25 deficit is the second smallest deficit in the last 10 years. A higher deficit is expected in 2025-26.
The budget includes a total real estate tax hike of 2.64%. This increase will help fund additional budgeted positions, a deficit reduction, full-day kindergarten, and debt service of 1%.
The district is projecting tax increases in the 2% range until 2030, which is subject to change as it does not take into account all the future expenses needed for full-day kindergarten.
With the 2024-25 Tax Rebate Program, the PA Property Tax Rebate maximum rebate increased from $650 to $1,000. Additional rebates also increased from $325 to $500 for qualifying residents with less than $30,000 in income and property taxes accounting for more than 15% of total income.
Maximum income to qualify for the PA rebate also increased from $35,000 to $45,000.
The Council Rock Board of School Directors will vote on the final budget at Thursday’s school board meeting at The Chancellor Center, 30 N. Chancellor St., Newtown, PA 18940, at 7 p.m.
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