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JS school district preliminary budget shows $883,141 deficit | News, Sports, Jobs


PAT CROSSLEY [email protected]
JERSEY SHORE The Jersey Shore Area School Board has passed a proposed budget for 2021-22 with no tax increase. However, district superintendent Brian Ulmer warns there may be changes in the spending plan before final adoption next month to make up a $883,141 deficit.
“What you passed as the proposed tonight, goes on display for 30 days. You can make changes to it before you approve it at the beginning of June,” Ulmer told the board.
As it stands, the budget shows total revenues of $42,808,049 and expenditures of $43,691,190, which leaves a deficit of $883,141. The unassigned fund balance is $3,713,977 which are funds that could be used to balance the budget. ....

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Jersey Shore Area School District seeks bond refinancing | News, Sports, Jobs


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JERSEY SHORE The Jersey Shore Area School District could realize a savings of at least $50,000, if not more, from the refinancing of debt following approval of a resolution setting the process in motion.
Under the motion, the district administration will work with PFM Financial Advisors LLC along with a bond counsel and the district’s solicitor to proceed with the issuance of general obligation bonds, series of 2021. The proceeds will be used in refunding the district’s four bonds from 2012 and 2015. PFM proposed using a dual track process for refunding which would compare using either a bank loan or a bond issue to determine the best option for the district. ....

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JSSD staying under tax index for 2021-22 | News, Sports, Jobs


PAT CROSSLEY [email protected]
JERSEY SHORE Even though increasing the real estate rate above the 4.1 percent index set by the state’s department of education could generate over $590,000, the Jersey Shore School Board voted unanimously to stay under the index for another year when considering tax rates for the upcoming fiscal year.
The vote came at the board’s meeting held virtually Monday night.
According to Ben Enders, district business manager, if the board would choose to raise the millage to the index, Lycoming County would see an increase in .75 mills, while Clinton County would see that increase at .55 mills. This alone would generate the $590,000 additional dollars in taxes. ....

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