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Cheltenham SD posts $1.5 million surplus but staff warns reliance on interest income masks structural gap
Summary
District finance staff reported a $1.5 million surplus for fiscal year 2024–25 but said $3 million in interest earnings and expiring federal grants mean the operating picture is tightening and may require policy choices ahead of the 2025–26 budget.
Cheltenham School District finance staff reported the district finished fiscal 2024–25 with $1.5 million in excess revenues over expenditures, but cautioned the surplus depends heavily on about $3 million in interest earnings and the one-time effects of expiring federal grants.
Mr. Swagger, a district staff member presenting interim and year-end results, said the district’s total expenditures grew to about $138 million in 2024–25 from roughly $131 million the prior year while revenues grew by about $1.6 million. “Interest income makes up $3,000,000 of our annual budget,” Mr. Swagger said. He also noted the expiration of ESSER funding in September 2024 reduced federal…
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