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2023-2024 FCASD Proposed Final Budget

The 2023-2024 Fox Chapel Area School District proposed final budget calls for total expenditures of $115,373,219 and total revenues of $114,667,359. The district plans to balance the budget via a drawdown from the fund balance and a tax increase. The proposed final millage rate for 2023-2024 would be 20.7352 mills, which represents a 1.5% millage increase from the 2022-2023 school year. The anticipated 1.5% millage increase falls below the 4.1% Act 1 index increase allowed by the state. Each mill generates approximately $3.7 million for the school district.

The school board approved the 2023-2024 proposed final budget May 8, 2023.

The board will discuss the final budget at its meetings June 5 and June 12. The board is expected to pass the final 2023-2024 budget at its June 12 meeting.

The 2023-2024 proposed final budget reflects the following:

  • $2.5 million transfer into the Capital Reserves Fund toward the School Board’s Projects and Planning Committee’s Multiphase Capital Projects Plan

    • The current phase’s projects already underway include:

      • Updates to the Hartwood Elementary HVAC system and interior lighting

      • Turf replacement for the high school baseball, softball, and multipurpose fields

  • Utilization of approximately $663,000 in federal stimulus funds for

    • Textbooks

    • Summer learning programs

    • Student and staff support services      

  • A 4.5% increase in tuition costs (the amount the district pays for students to attend cyber and charter schools, special education facilities, and the A.W. Beattie Career Center)

  • Employee insurance premium increases:

    • 14% for medical coverage

    • 3% for dental coverage  

    • 3% for vision coverage

  • Public School Employees’ Retirement System (PSERS) employer contribution rate of 34% for 2023-2024

    • This represents a 2% decrease over 2022-2023.

    • This is an unprecedented decrease in contribution rates from the PSERS board; however, projections are expected to increase again within two years.

    • This accounts for 15% of the overall budget. The state reimburses the district 50% of the costs.

The budget is subject to change between the proposed final budget and the approval of the final budget.

Future Challenges

  • The contribution to PSERS continues to be a challenge for all school districts in Pennsylvania.

    • The employer contribution rate is set by PSERS trustees, not by the district.

    • The district anticipates paying more than $45 million in PSERS contributions during the next five years.

  • Projected multiyear Capital Improvement Plan costs

  • COVID-19 and its economic impact on the current and future budget years continue to be an uncertainty. 

 Gaming Funds Distribution

The gaming funds distribution is determined by the state. The amount of funds to be received by the Fox Chapel Area School District was provided by the state after the proposed final budget was presented. The exact figure will be incorporated into the final budget once the total amount is known.