School board approves 2019-2020 budget

Staff Writer

Recently the St. Marys Area School District Board of School Directors approved the 2019-2020 general budget with expenditures totaling $31,162,203.
The retirement reserve fund budget is based on budgeted salaries applicable to the Public Schools Employees' Retirement System (PSERS) in the amount of $12,329,215 for the 2018-19 school year
The 2019-2020 retirement reserve fund budgeted transfer to the general fund is $735,822 to address PSERS annual mandated contributions. Prior to the transfer the balance of the retirement reserve fund is $740,046 as of May 31.