The Boyertown Area School District held a board meeting on April 8, 2025, where key financial updates and audit results were discussed. The meeting began with a presentation on the district's compliance with federal funding regulations, highlighting that the district had exceeded the $750,000 threshold for federal expenditures, thus triggering additional audit requirements.

The auditor reported a clean opinion on the district's compliance testing, indicating no deficiencies or material weaknesses in the major programs, including the Individuals with Disabilities Education Act (IDEA) funding and the Child Nutrition Cluster, which encompasses the national school lunch and breakfast programs. This positive outcome reflects the district's strong internal control processes.

Financial results for the fiscal year ending June 30, 2024, were also presented. The district successfully added approximately $7 million to its general fund balance, primarily due to higher-than-expected earnings on investments and other tax revenues. The auditor noted that while investment earnings had been favorable this year, they may not be as reliable in the future as interest rates begin to decline.

The report also addressed federal funding, which was about $1.5 million over budget. However, this increase in revenue was matched by corresponding expenditures, indicating that federal funds were effectively utilized to alleviate pressure on local and state funding sources. The district's expenditures showed savings in regular programs, while special programs experienced overages. These savings were redirected to capital funds to support long-term needs.

As of June 30, 2024, the district reported an unassigned general fund balance of approximately $10 million, which is available for use. The remaining fund balance was designated for various commitments, including capital projects and technology reserves. The district's financial position was further clarified through a full accrual basis report, which indicated a net pension liability of about $163 million, primarily due to the Peasers pension system.

In conclusion, the meeting underscored the district's solid financial management and compliance with federal regulations, while also addressing the challenges posed by pension liabilities. The board plans to continue monitoring these financial aspects closely as they prepare for future budgets and funding strategies.