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Cheltenham SD reports structural surplus but flags state budget timing, cyber-charter funding and grant uncertainty
Summary
Finance staff told the district's Financial Affairs Committee the district shows a structural surplus through February but cautioned that proposed changes to the state budget, timing of state disbursements and cyber-charter tuition rules could materially affect next year's revenue outlook.
At a Cheltenham School District Financial Affairs Committee meeting, district finance staff reported the district has a "strong cash position" through February and described the district as showing a structural surplus but warned several state-level changes and timing issues could affect next year's revenue.
The district's finance presenter said year-to-date expenditures are higher than last year, noting "having spent 84,700,000.0 this year to date versus 76.7 versus last year to date" and explaining part of the difference is an extra payroll cycle that added roughly $3,000,000 in salaries and wages. The presenter also cited curriculum purchases, pupil personnel services funded by PCCD school mental health grants and several large facilities projects — including the recent opening of EPIC and expanded repairs…
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