Cheltenham SD finance committee outlines 3% proposed tax increase to balance 2025-26 budget

Dan Schultz, who opened the Finance Committee meeting on May 6, said staff would present interim financial results for 2024-25 and the proposed final budget for 2025-26.

District staff reported a projected year-end surplus of about $1.8 million for 2024-25, with projected revenue of $137,800,000 and projected expenditures near $136,000,000. For 2025-26, staff presented a proposed final budget that would increase total expenditures to roughly $140,000,000 and requires a proposed 3% property tax increase to balance without drawing down fund balance.

The administration attributed the bulk of the spending growth to contractual salary increases and associated benefits and to rising special-education costs, including out-of-district placements and one-on-one paraprofessional services. Staff said special-education placements have increased across the Delaware Valley and that many private placement slots and related paraprofessional labor are in short…