CLEARFIELD – The Clearfield school board on Monday night voted to approve its final 2023-24 general fund budget.
The budget calls for $54.49 million in expenditures and $48.99 million in revenues, with a projected deficit of $5.49 million but no tax increase.
The fund balance, as of June 30, 2022, was $15.05 million, according to budget paperwork, and in 2022-23, the district anticipates a surplus of approximately $357,987.
The fund balance is estimated to be $15.41 million on June 30, 2023.
“So, we have more than enough in reserves to cover our projected deficit,” stated Business Manager Sam Maney, noting the budget is a “worse-case scenario” and there’s still “a lot of moving parts.”
The board also voted to approve its final Capital Funds budget totaling $547,000 and Cafeteria Fund budget totaling $1.88 million.
In another budgetary matter, the board voted to commit a portion of its unreserved/undesignated fund balance to cover future anticipated increases in employer contributions to the Pennsylvania School Employees Retirement System (PSERS).
Maney will calculate the amount of the PSERS commitment, as well as those for anticipated increases in cyber charter tuition and health insurance.
