Understanding District Finances

Financial Facts about CVSD

• The realities of the District’s current finances demand that we are financially responsible as a school district as we negotiate a new contract with the teachers’ union.
• The 2022-23 budget of $74.6 million was approved on June 21, 2022. The millage rate has increased in each of the last five years. Despite the millage increases, CVSD’s millage rate is still the fifth lowest in Allegheny County, and teachers’ top step salaries in our District are among the highest in the county.
• The District is projecting a 15 to 18 percent increase in health care costs starting July 2023.
• If fiscal responsibility is not fully considered, we will be in an extremely difficult position and may be forced to consider reductions in programs and opportunities for our students.
• We all have a stake in keeping Chartiers Valley on firm financial footing. Ultimately, the community is responsible for paying its teachers.
• The District’s Capital Improvement Fund is precariously low. There is a need to increase the balance in the Capital Improvement Fund so all property and facilities – especially for capital improvements to the aging CV Intermediate School – are properly maintained.
• In October 2021, the Board secured and approved a low-interest bond loan to pay for needed upgrades and renovations. This funding is earmarked and can only be used for renovations/upgrades that were stipulated in the bond application. Many of these upgrades are for code compliance to meet accessibility, safety, and quality standards.

Click here to view a financial update provided by the Director of Finance and Operations, Ms. Patricia Connolly, on November 8, 2022.

In May 2022, Director of Finance and Operations, Ms. Patricia Connolly provided an update on the 2022-2023 budget. Click here to view the presentation. 

Chartiers Valley Teachers at the top step are among the highest paid in Allegheny County. The following chart shows comparable school districts and their top salaries at a Master's level. Also included is the district's budget size and the number of days the teachers work.

District	22-23 Masters Salary	Steps	Budget	Days Worked
Chartiers Valley	$116,057	18	$74.63 M	190
Montour	$114,588	18	$77.21 M	190
Bethel Park	$105,598	18	$99.57 M	193
West Allegheny	$107,975	17	$73.11 M	194
South Fayette	$105,400	17	$72.58 M	194
Peters Township	$110,733	17	$76.95 M	193
Upper St. Clair	$111,100	17	$95.75 M	196

The cost of charter schools has increased over recent years. The chart below shows the last four years of charter school expenditures the district is required to pay. The district must pay that tuition for any student who lives in Chartiers Valley but chooses to go to a charter school. 

 

Special Education is a vital part to our schools. However, the cost of special education is increasing, while the state and federal funding has stayed flat. 

Understanding the Act 1 Index 
What is Act 1?
In June 2006, then Governor Ed Rendell signed Special Section Act 1 of 2006, the Taxpayer Relief Act. This law, known as "Act 1", was designed to help Pennsylvania school districts reduce property taxes by shifting the tax burden and utilizing gaming revenue. The legislation was designed to give voters a say in the school district’s budgeting process. 

Act 1 is not optional. All districts are required to abide by its regulations, even if they choose not to accept revenue from state-controlled gambling provided through the act. The Act 1 index limits the amount that school districts can raise real estate property taxes. The only other option a school district can raise taxes beyond the Act 1 index is through a ballot referendum.

 What has the index cap been set at in the past?

                             Act 1 Index       CV Tax Increase          Millage

13-14                    1.7%                     no increase                  16.275

14-15                   2.1%                      no increase                 16.2175

2015-16              1.9%                           1.9%                          16.6067 

2016-17              2.4%                        no increase                 16.6067

2017-18              2.5%                       no increase                 16.6067

2018-19              2.4%                             2.4%                         17.0710

2019-20              2.3%                             2.3%.                        17.5595

2020-21              2.6%                              2.6%                        18.2118

2021-2022       3.0%                                 3.0%                       18.7580

2022-2023        3.4%                                3.4%                        19.3957

2023-2024      4.1%                                                                      TBD