On March 13, 2013 the Superintendent provided a update on how much PWCS expects to receive next school year. The school division expects to receive about $5.6 million less than they’d originally budgeted due to the change in the tax rate approved by the PWC BOCS and a reduction in funds received from the state. The numbers are below:
|State Reduction in Cost of Competing funds||(5,236,964)|
|Funds provided for 2% salary increase||893,893|
|PWC Reduction due to tax rate change||(1,295,602)|
|Adjusted Projected Receipts||887,972,916|
* Possible reduction in federal programs in FY 2014 due to sequester could be $2.6 million. This is an 8% reduction in monies received for federally funded programs. Per the Superintendent, it would be impossible for the school division to implement an 8% reduction in those programs without cutting staff.
The Superintendent said that he would provide the school board and public with an updated budget before the markup session. He said that budget would reflect the $5.6 million reduction in projected receipts for FY 2014 and that he would not be cutting teacher compensation to find that $5.6 million.