Keystone Oaks School District’s Board of School Directors approved the District’s 2020-2021 Final General Fund Budget during their Business/Legislative Meeting on June 16, 2020.
The Final Budget, with expenditures totaling $43,180,309, does not include a tax increase, maintains current programs, and allows Keystone Oaks to implement a 1:1 Chromebook initiative at Keystone Oaks High School for the 2020-2021 academic year.
Revenues are estimated at $42,350,577, creating a deficit of nearly $830,000 that is expected due to decreased local revenues caused by the impact of COVID-19 on the local economy. The 2020-2021 Final Budget will be balanced by using funds in the District’s fund balance.
“Over the past month, District administrators and the Board of School Directors worked diligently to cut more than $1 million in expenses from the 2020-2021 budget,” said William P. Stropkaj, Ed.D., Superintendent of the Keystone Oaks School District. “While cutting any expenses is not ideal, we are proud to say that we were able to present the Board of School Directors with a budget that does not cut any educational programs and minimizes the economic impacts of COVID-19.”
The Final Budget is available on the District’s website - https://www.kosd.org/FiscalServices.aspx
A total of 5,440 Castle Shannon, Dormont & Green Tree approved Homestead property owners, who have filed Act 1 exception forms, will see a lower tax bill due to state gambling revenues. The $156.13 real estate tax reduction results in a larger decrease for qualified homeowners.