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Mount Lebanon treasurer reports midyear budget adjustments; district shows projected $789,256 deficit
Summary
Treasurer's report for December shows lower realty transfer tax revenue, adjustments to delinquent tax collections, a projected $789,256 deficit for 2024–25 and a preliminary 2025–26 budget on display; board was also asked to authorize joining litigation related to insulin overpricing.
The Mount Lebanon School District’s treasurer reported Dec. 31 cash and investment balances and midyear budget adjustments at the Jan. 13 meeting, projecting a $789,256 deficit for the 2024–25 fiscal year and presenting the 2025–26 preliminary budget (on public display for 30 days).
The treasurer’s report included a four‑page summary of cash positions, a schedule of receipts and disbursements and a listing of investments with beginning and ending balances as of Dec. 31, 2024. The district’s projected expenditures for 2024–25 were shown at about $121,000,000; revenues were adjusted downward from the adopted budget to reflect current collections and refunds.
Key revenue changes cited in the presentation included a $190,000 downward adjustment to realty transfer tax receipts tied to lower housing sales across the county and a $150,000 upward adjustment to projected delinquent tax collections, which partially offset the transfer‑tax decline. The treasurer reported that the district’s projected deficit for 2024–25 is $789,256.
On federal funding, the superintendent said the district’s Title I allocation is preliminarily down by about $28,000; final federal allocations are expected in February. The superintendent and treasurer emphasized that some state and federal funding reductions were known after the district adopted the prior budget, and that the deficit reflects lower revenue expectations rather than unplanned overspending.
Board members asked about the earnings‑on‑investments line; the treasurer said six‑month results are about 1.2 (units cited in the report) against a budgeted amount of 2.0 and that interest rates appear to be declining. The treasurer said the administration will continue to monitor and update projections.
The board also was asked to authorize the district to join litigation alleging overpricing by insulin manufacturers and pharmacies; the materials included a draft resolution and a proposal from a firm representing the litigation. The superintendent said the authorization would not cost the district to join the action and that pharmaceutical pricing contributes to higher healthcare costs carried by school‑district insurance pools.
Other financial items presented for approval or review included the monthly list of bills (Dec. 5–20, 2024), budgetary transfers totaling $8,450.40 for contracted services and supplies, a list of unusable equipment for disposal and the 2023–24 Annual Comprehensive Financial Report, which includes the independent auditor’s report. The 2025–26 preliminary budget, which was on display and presented Dec. 9, 2024, was placed before the board to allow the district to apply for special‑education and retirement exceptions.
No formal roll-call votes on the treasurer’s report or on the preliminary budget were recorded in the meeting transcript; the administration recommended approval on those items and will return them for formal action on the board’s agenda as required by statute and district procedures.
