Central York treasurer reports $3.2M projected surplus for 2024-25; board hears multi-year shortfall projections and preliminary 2025-26 budget assumptions

The Central York School District board on Feb. 24 heard financial results to date for fiscal 2024–25 and an early preview of the 2025–26 budget, alongside a business‑operations committee review that flagged multi‑year structural shortfalls.

Treasurer Director McMillan told the board the district’s beginning cash balance on Jan. 1 was $50,768,860 and the ending balance for Jan. 31 was $43,496,976. The district reported it is 58.3% through the fiscal year. Real-estate tax collections were at 101% of budget (budgeted at 96%), and interest income was "trending to reach over a million dollars for the fiscal year," McMillan said. The district also received its first cyber‑charter reimbursement payment and part of a special-education subsidy included in the state budget.

Preliminary 2025–26 budget and assumptions Administration presented an early 2025–26 budget that uses a 1.75% tax-rate increase in modeling and, under the current assumptions, would produce a near-balanced result (a small surplus in the low‑hundreds of thousands). Director McMillan summarized preliminary numbers showing projected revenues of about $115.55 million against proposed expenditures of roughly $115.3 million under the 1.75% scenario; those preliminary inputs produced a small projected surplus in the staff presentation.

Rolling‑aid and multi‑year outlook Business‑operations committee discussion focused on longer-term projections. Administrators and board members reviewed the district’s rolling multi‑year forecast (the “rolling 8”), which previously showed a cumulative shortfall for later years. At an earlier projection the long‑range shortfall for the 2029–30 school year was reported at about $19.3 million; current rolling‑aid figures presented to the board showed that the same out year had worsened to about $20.3 million and that the farthest projected year on the table showed a cumulative shortfall of roughly $29.3 million. Administrators translated the out‑year total into an average annual shortfall of about $4.9 million.

Committee notes and implementation points Director McMillan and the business‑operations committee asked the board to note that the rolling forecast incorporates the capital funding plan that the district has approved to date, but the district’s broader capital‑needs list exceeds currently funded items in later years. The treasurer cautioned that the current 2024–25 projection is preliminary and will be refined as the budget process continues through spring; the presentation showed a projected surplus of about $3.2 million for the current year.

Board action taken that night The board approved the treasurer’s report and financial statements for January as presented (voice vote). The business‑operations committee also reported it declined to advance a requested LERTA abatement from a private applicant, saying the request did not fit the program’s intended use.

Why it matters The district’s near-term projections show a manageable surplus for 2024–25, but administrators warned the structural multi‑year outlook still shows significant gaps that will require choices on taxes, spending and capital planning in coming budget cycles.

Ending Administrators said they will continue to refine revenue and expenditure estimates through May and June and will bring staff recommendations on staffing, cyber‑charter enrollment and capital prioritization to the board during the regular budget process.