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Cheltenham SD reports $96 million revenue through September; Act 1 base index set at 3.5%
Summary
District staff presented interim financial statements through Sept. 30 showing $96 million in revenue (down from $99 million a year earlier), a $3.7 million transfer to capital projects tied to the stadium, delayed state and federal aid, and an Act 1 base index of 3.5% that sets an early budget timeline and a Jan. 29 opt‑out deadline.
Cheltenham School District staff reported on Oct. 7 that total year‑to‑date revenue through Sept. 30 was $96,000,000, down from $99,000,000 at the same point last year, and explained a cash reduction tied to moving general‑fund surpluses into capital projects for the stadium and other work.
Mr. Swaggart, a district staff member, described the capital accounting: “So this this 15,000,000 consists of all of that money that was part way to be paid through the cap reserve fund. Now the stadium project is under is undergoing, and we have some other few other minor projects undergoing capital wise. We're starting to take that money and physically pay it to, the cap reserve fund the capital projects fund. Hence, this…
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