Forest City Regional School District - Budget

Budget

In 2009, the district reports employing over 80 teachers with a starting salary of $40,240 for 185 days for pupil instruction. The average teacher salary was $53,085 while the maximum salary is $108,899. By contract the teachers work a 7 hour 10 minute day.As of 2007, Pennsylvania ranked in the top 10 states in average teacher salaries. When adjusted for cost of living Pennsylvania ranked fourth in the nation for teacher compensation. Additionally, Forest City Regional School District teachers receive a defined benefit pension, health insurance, professional development reimbursement, paid personal days, 10 sick days and other benefits. Teachers are paid $21.50 per hour if they are required to work outside of the regular school day. According to State Rep. Glen Grell, a trustee of the Pennsylvania Public School Employees’ Retirement System Board, a 40-year educator can retire with a pension equal to 100 percent of their final salary. Additionally teachers receive payment for unused sick days upon retirement after 25 years. The district pays the health insurance premium for early retirees until age 65 years.

In 2007, the district employed 70 teachers. The average teacher salary in the district was $49,068 for 180 school days worked.

Forest City Regional School District administrative costs per pupil in 2008 was $706.27 per pupil. The district is ranked 309th out of 500 in Pennsylvania for administrative spending. The lowest administrative cost per pupil in Pennsylvania was $398 per pupil. The district reported that the superintendent's salary was $112,819, in 2009.

In 2008, Forest City Regional School District reported spending $12,700 per pupil. This ranked 200th in the commonwealth. In 2010 the per pupil spending had increased to $13,929.60 Among the states, Pennsylvania’s total per pupil revenue (including all sources) ranked 11th at $15,023 per student, in 2008-09. In 2007, the Pennsylvania per pupil total expenditures was $12,759.

Reserves

In 2009, the district reported $2,655,601 in an unreserved-undesignated fund balance. The designated fund balance was reported as zero. In 2010, Forest City Regional Administration reported an increase to $$3,040,512.00 in the unreserved-designated fund balance, while the an unreserved-undesignated fund balance was zero. Pennsylvania school district reserve funds are divided into two categories – designated and undesignated. The undesignated funds are not committed to any planned project. Designated funds and any other funds, such as capital reserves, are allocated to specific projects. School districts are required by state law to keep 5 percent of their annual spending in the undesignated reserve funds to preserve bond ratings. According to the Pennsylvania Department of Education, from 2003 to 2010, as a whole, Pennsylvania school districts amassed nearly $3 billion in reserved funds.

In July 2010, the Pennsylvania Auditor General conducted a performance audit of the district. Findings were reported to the administration and school board.

The district is funded by a combination of: a local income tax, a property tax, a real estate transfer tax 0.5%, coupled with substantial funding from the Commonwealth of Pennsylvania and the federal government. Grants can provide an opportunity to supplement school funding without raising local taxes. In the Commonwealth of Pennsylvania, pension and Social Security income are exempted from state personal income tax and local earned income tax regardless of the individual's wealth.