P-G: Budget Planning Begins

Mt. Lebanon school board unanimously approved a resolution Monday directing Superintendent Timothy Steinhauer to prepare a final budget for 2011-12 with a millage increase that does not exceed 1.4 percent of the current year's rate of 26.63, or 0.37 mills, district spokeswoman Cissy Bowman said.

The resolution comes a year after the board passed a 10.5 percent property tax increase due to increased pension responsibilities and a bond issued for the planned $113.2 million high school.

Also Monday, finance director Janice Klein said the Moody's rating agency recently gave the school district an Aa1 credit rating. The rating reflects that the agency believes the district's financial obligations, including the $69 million bond issued last year for the high school project, are of high quality and subject to very low credit risk

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• www.post-gazette.com/pg/11020/1119366-55.stm (Pittsburgh Post-Gazette)