Common Budget Terms, Acronyms and Account Codes Used by Pa School Districts
Click the link below to obtain a list of budget terms, acronyms and account codes the district uses in its budget documents.
Click the link below for an explanation of the GVSD fund structures, general fund accounting, and accounting code descriptions.
Converting the "Budget-to-Budget" Change to the Tax Revenue Change
How can a budget decrease by over a million dollars and yet the tax rate and total tax revenue still increase? That strange result did happen in FY 1112; the tax increase was the result of decreases in other revenue sources, including subsidy cuts and erosion of the tax base.
Click the link below to view an analysis of the fiscal year 2011-12 year-to-year total budget decrease of $1.1 million vs the tax revenue increase of a half million dollars.
Mills, Assessments, the Budget Process and Cost Performance Measures
Click the link below for general information about mills, assessments, the budget process, and the district"s cost per student as measured against other school districts.
10 Year Change in Tax, Budget and Other Measurement Data
For budget planning and review purposes, the district reviews longer-term tax, budget and other measurement data. The links below will allow you to view and download this trend information
Act 1 of 2006 (Tax Rate Increase Cap)
The Pennsylvania Department of Education (PDE) calculates an annual statewide tax rate increase base index (cap), known as the Act 1 index. The district's total budgeted tax rate increase must be at or below the base, Act 1 index unless exceptions are submitted for approval to PDE, the Delaware County Court of Common Pleas, or, by approval through general referendum as part of the general election held in May.
PDE also calculates an annual measure of the relative wealth of each school district known as the "market value / personal income" aid ratio, or aid ratio. Districts with aid ratios higher than .4000 are allowed tax rate increases above the base index which vary with their respective aid ratios. In Delaware County, current aid ratios range from .1500 (wealthy) to .8652 (distressed). The median Delaware County aid ratio is .4322. The Garnet Valley School District aid ratio is .3225, and it is subject to the base Act 1 index.
Click the link below to view the base, Act 1 index history calculated by GVSD under provisions of Act 1 of 2006.