Tuesday night, the River Valley School Board approved the district budget and the repayment of the 2025-26 Tax and Revenue Anticipation Note.
Board president Rick Harper said that the district was put in a tough situation to repay the note after the district’s business manager did not pay it, and the board did not want to default on the loan in order to apply for another TRAN.
The district will use $500,000 from available balances in the general fund, $1.5 million in unspent money from the 2025-26 TRAN, and $3 million from the district’s project fund. The resolution will also allow the district to seek a $4 million TRAN from First National Bank of Pennsylvania.
The 2026-27 budget will come to just over $37 million and includes a 2% tax increase for district residents. Harper said that the tax hike was due to increases in costs and state funds staying about the same.
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