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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 committee reviewed early interim financial statements and unaudited 2025 results and reported “a minimal net change in fund balance and a $1,500,000 transfer of funds to future projects,” which the administration said will support capital work now planned or underway.
The committee also discussed bond processes and the timeline for an independent fiscal audit; board members were told the district’s budget process for next year is already beginning even while state-level revenues remain unsettled.
Separately, Miss Lohman reported on the Montgomery County Intermediate Unit, which serves Cheltenham and other county districts. The MCIU board approved a $15,000,000 revenue anticipation note resolution to maintain operations while the state budget impasse persists and state payments are withheld. The MCIU report noted particular pressures in early-intervention preschool programming — a budget deficit of roughly 40 percent in that program — and highlighted state funding that has remained flat for several years for early intervention services.
The MCIU presentation also flagged the county’s cyber charter costs, noting about 2,123 students enrolled in cyber charter schools in Montgomery County and roughly $25 million in tuition paid by districts; speakers said capping per-student cyber charter tuition would materially reduce those outlays.
Board members were told the district continues to prepare for capital projects by reviewing bond implications on long-term outlook and by transferring funds to future projects as part of capital planning. The finance committee said the next meeting will be Oct. 7 following the facilities committee meeting.
No formal district-level budget vote occurred at the meeting; committee updates were provided to the full board for information and ongoing oversight.
