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Cheltenham finance staff: cash strong but timing, special education and maintenance drive year‑to‑date increases
Summary
District finance staff told the Financial Affairs Committee the district shows a year‑to‑date cash increase but that revenue timing, special education tuition and one‑time maintenance and IT costs are driving much of the year‑over‑year growth.
Cheltenham School District finance staff told the Financial Affairs Committee on Dec. 10 that the district has a healthy cash balance year to date, but several timing and one‑time costs account for much of the reported year‑over‑year increases.
The district’s interim financial statements show revenues of $114,000,000 compared with $105,000,000 at the same point last year and expenditures of $46,000,000 versus $43,000,000, producing about a $6,000,000 net increase on a cash basis, finance staff said.
That increase is “not all of this is a true increase,” said Mister Sawyer, a district staff member presenting the statements, adding that some of the difference reflects transactions not yet applied against receivables. “We have a nice healthy cash balance. Obviously, we have some bills to pay, but we have a…nice increase in cash from the year.”
Why it…
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