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Elizabethtown Area SD reports stronger-than-expected interest income as budget talks turn to tax options
Summary
District finance staff reported roughly $1.2 million in investment income so far this fiscal year and laid out revenue scenarios tied to varying real-estate tax increases as the board prepares a preliminary budget.
Elizabethtown Area School District finance staff told the school board at its March workshop that the district has earned about $1.2 million in interest income through the first seven months of the fiscal year, a figure that modestly exceeds the budgeted amount.
The interest gains came from several district accounts, district finance director explained, with roughly $730,000 earned in the general fund over seven months, about $333,000 in the bond fund, approximately $158,000 in capital reserve and smaller amounts in cafeteria, scholarship and student activity accounts. Staff said the district uses short-term and fixed investments and works with its financial advisor to time placements to maximize interest while preserving liquidity.
Why it matters: The extra interest gives administrators some…
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