The Peters Township school board last night passed a tentative budget calling for $47.4 million in spending during the next school year, including a technology budget of $1.2 million and reserve fund of $851,153.

Because of the economic downturn, however, it is still unclear if revenues will be enough to accommodate spending.

During the next month, revenue projections for the coming school year should be finalized, said school board finance chairman Thomas McMurray.

New housing and tax revenues are down, Mr. McMurray said, and other variables involving state and federal funding have yet to be ironed out. Also unknown is whether Washington County will order a property reassessment or how several tax appeals will be resolved.

A shortfall may be made up through a tax increase, budget tightening, use of reserve funds, or a combination of those initiatives.

The budget represents a 3 percent increase over last year.

The school board also is closely watching the Peters council, which recently ordered a reopening of its annual budget after reporting a 30 percent drop in real estate transfer taxes. Those taxes, paid when a property changes hands, are shared between the township, which gets 1 percent of the tax, and the school district, which gets one-half percent.

The school board will discuss revenue at a June 15 public finance meeting and plans to pass the final budget June 29.