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Board hears early-year finance review; county education unit approves $15 million revenue note amid state budget impasse
Summary
Cheltenham’s finance committee reported a minimal net change in fund balance and a $1.5 million transfer to future projects; Montgomery County Intermediate Unit approved a $15 million revenue anticipation note to cover operations while state budget funding remains withheld.
The Cheltenham School District finance committee reported a largely stable start to the fiscal year and a planned $1.5 million transfer into future projects, while the Montgomery County Intermediate Unit (MCIU) announced a $15 million revenue anticipation resolution to keep services running amid a state budget impasse.
The items matter because the state budget remains unsettled, leaving school districts and shared service agencies uncertain about expected state payments and potentially affecting cash flow and program delivery.
Finance committee chair Daniel Schultz told the board the…
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