No tax hike, program or job cuts in Riverview’s proposed 2020-21 budget
Thursday, May 14, 2020 | 10:11 PM
Oakmont and Verona property owners should not expect to pay more in real estate taxes as a result of next school year’s budget.
The Riverview School Board voted Monday night to advertise the final 2020-21 budget.
Finance chairwoman Maureen McClure said there is no tax increase, cuts to programs or furloughs in the spending plan.
However, there is some concern with state projected revenues due to the covid-19 pandemic.
“All of this is based on the estimates we have from the state,” she said. “If that changes, then everything could change. They have lost a lot of money in this relatively short period of time.”
Revenue from state sources was listed at about $6.72 million.
The state, like many school districts, typically finalizes its budget by the end of June.
“’Typical’ is not the right word right now,” McClure said. “This stuff could change on a dime.”
Local tax collection is also a concern with unemployment on the rise and numerous businesses closed or under modified operation because of the pandemic.
District officials plan to pull from an estimated $1.78 million unassigned reserve fund to fill a projected $115,000 shortfall. Proposed revenues and expenditures were balanced at $24.14 million.
“We’ve done everything we can,” McClure said of the financial planning. “I give (Superintendent) Peggy (DiNinno) and (business manager) Tammy (Good) a lot of credit for making that happen. That was not easy. The board had said very clearly, ‘No tax increase.’
“We’re in pretty good shape because we tend to be a little on the conservative side, so we have the savings to help out.”
The proposed budget, along with budget presentations and other financial documents, was posted in the business office section of the district’s website. Its formal adoption is expected some time next month.
Riverview raised taxes about 1.16% and kept programs status quo in the current school year’s budget.