The administration and finance committee presented the proposed 2013-14 budget to The Titusville School Board which originally contained a deficit of approximately $1,000,000 at the start of the budget process. After several meetings the administration and the Finance Committee have reduce the deficit to $297,000. As approved, the proposed 2013-14 budget contains a tax increase to the Act 1 index which generates approximately $127,000 the remaining deficit is being used out of the district’s fund balance. As proposed, the budget includes a tax increase for Crawford County of 0.81 mills (2.1%), an increase in Venango County of 0.39 mills (2.6%), and an increase in Warren County of 1.08 mills (2.5%). It was noted that last year both Crawford and Warren counties receive a reduction in millage greater than what is being proposed for the 2013-14 budget. Major items impacting this budget are the continued increase in the district’s required contribution to pensions, health insurance cost, special education cost (which the state and federal government continue to underfund), and the uncertainty and dependence on the state budget process. The final budget will be adopted at the June 24, 2013 board meeting. The administration and the Board will continue to work to try and reduce the deficit further before the final adoption.

In other financial matters, The Titusville School District will receive $489,524 for property tax reduction. This will mean an estimated $149 reduction in property taxes for each homestead and farmstead that has been approved by the counties. If a property has been approved the tax reduction will automatically be reduced from the tax bill.