Meadville Tribune

Local News

July 11, 2014

Savings funds needed as PENNCREST to receive less state funding than expected

SAEGERTOWN — PENNCREST School Board may have to dip into its savings funds to balance its 2014-15 budget because it is receiving about $300,000 less than it expected in state funding.

The school board reported at its regular meeting Thursday night that Gov. Tom Corbett signed the state budget earlier that day, ensuring the reduction from what was originally anticipated for the PENNCREST School District 2014-15 budget.

The district’s budget of $50,128,000 will still hold an increase of more than $1 million over the 2013-14 budget. The district’s final deficit will end up around $520,000 instead of the approximate $220,000 initially anticipated by the school board, according to PENNCREST Business Manager William Fendya.

Fendya reported at the board’s Monday work session that the remaining state funding may come to the district in the form of a block grant, which could mean additional restrictions on spending.

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