NP Board Approves $200M Preliminary Budget

The North Penn School Board Thursday recommended approval of a preliminary budget of $200 million, and will now advertise the budget to the public.

As it stands now, the proposed final budget comes with “no tax increases, no cuts in programs, and no increase in salaries for any employees,” according to board President Vince Sherpinsky.

“The board is in discussions” with various employee unions about accepting a wage freeze, he said, adding that he was hopeful the parties would reach an agreement when talks resume next week.

“We’ve asked them to agree to a freeze. We’ll see what happens,” he said.

Moreover, Sherpinsky said the school district is making the assumption that state legislators will  reinstate about $2.9 million in funding cuts.

“Both Houses have assured us it will happen,” he said, “but, of course, we have to see it first.”

To balance the budget, the school district will use $1.6 million from its fund balance.

Robert Schoch, district director of business administration, said generally, state regulations require school districts to keep a fund balance, or savings account, of 5 percent to 10 percent of total expenditures.

North Penn’s fund balance stands at 8 percent, or about $16 million, he said.

“Going down by 1 percent is well within our means,” Schoch said.

The final budget is scheduled for adoption on June 23.