The Penns Manor School Board will meet tonight and two financial-related items are on the proposed agenda.
One motion will be to formally rescind a resolution for the district to issue a Tax and Revenue Anticipation note of no more than $3.5 million to First Commonwealth Bank. On November 5th, the board authorized the resolution due to the ongoing state budget impasse that had left the district without much-needed state funding. The budget was passed on November 12th, over 130 days late. With that passage, the district does not need the additional funding to meet current expenditures.
The other resolution related to finance is to certify that the board will not raise taxes for district residents above the 5.1% limit calculated by the State Department of Education.
The meeting is scheduled for tonight at 7:00 PM at the district office.
