At a recent school board meeting, Jan Klein was explaining the ramifications of the reassessment. There are anti-windfall provisions that are built into the reassessment process so that school districts cannot gain significantly from a simple reassessment.
James Fraasch made an excellent presentation on the subject at an Audit/Finance Committee meeting. He wrote about it on his blog. Here is the link.
It is interesting how James had an entire page listing his sources.
While the District must abide by Act 1 limits....it might be or result in something like 1.7% for 2012-2013 for instance ...I believe the Municipality can retain up to 5% of an increase above a revenue-neutral level.
ReplyDeleteIt also might be timely for Jan to advise when the PSERS mess will be updated and forecasted in view of the significant tanking of the financial markets during the 3rd. quarter, with no likely improvement in sight....all in the name of budget forecasting and planning, reassessments and otherwise.
ReplyDeleteThe most recent 5-year District budget forecast made available to the public is dated 5/23/2011.