Committee reviews proposed 2025–26 budget, fund balance and revenue trends

The Haverford Township SD Finance & Facilities Committee reviewed the proposed final budget for 2025–26 and routine financial reports, including revenue-collection and expenditure-tracking as of March.

The discussion matters because the committee must recommend a final budget for board adoption and because the district faces structural pressures from tax-assessment trends and rising costs in core services.

Staff said the state funding picture had not materially changed since the proposed budget was approved; the district expects roughly an additional just over $100,000 from state sources compared with the current fiscal year. Committee members asked for clarification of the remaining budget gap; participants gave differing figure references during the discussion, and staff did not present a single consolidated gap figure in the committee meeting transcript. One member referenced about $4 million; another referred to figures totaling about $2.3 million and a smaller capital amount during back-and-forth comments. Because the transcript includes multiple, inconsistent references, the exact remaining gap is not specified here and will appear in the formal budget documents presented to the board.

Staff described the district’s revenue-collection status through March: local revenues (primarily taxes) were roughly fully collected for the period reported, while state and federal receipts post on different schedules. The staff summary noted local revenue collection at about 98% for the period, state revenue receipt around 59% and federal revenue about 35% — figures that reflect the timing of state subsidy deposits and federal quarterly draws rather than absolute shortfalls. On expenditures, staff reported approximately 70% of budgeted spending had occurred through March, which staff described as consistent with typical seasonal spending patterns and their practice of moderating discretionary spending late in the fiscal year.

Committee members discussed longer-term fiscal strategies, including (1) seeking charter-school funding reforms (which were estimated by a participant to yield roughly several hundred thousand dollars if certain reforms pass), (2) being more proactive about contesting under-assessed properties to protect the tax base, and (3) laddering investments if market conditions improve to generate more interest income. Several members noted the district’s tax-assessment base is “fully developed,” meaning little new development will grow the base; frequent reassessments and successful taxpayer appeals reduce assessed values and can erode operating revenues.

Staff also reviewed budget expansion items (federal grants and carryover funds recognized as both revenue and corresponding expenses) and budget transfers (moving appropriations between objects or functions). Staff clarified these are net‑zero for the district bottom line: grant revenue is recognized only when corresponding expenditures are incurred and transfers reallocate existing appropriations rather than add new resources. Staff said they will continue monthly monitoring of spending and fund balance and will present the final-adoption resolution at the board’s first June meeting.

Ending: Committee members were invited to raise any remaining questions before the board’s final-adoption vote; staff said monitoring will continue and that they will return with any material changes prior to the June board meeting.