At a Delaware Valley SD school board meeting, staff outlined the timeline for the district’s 2025 budget process, scheduled the external audit presentation next week and described intended budget transfers to align revenues, fund health insurance and reduce an actuarial shortfall in pension funding.

Staff told the board “Next Tuesday morning is the audit presentation by our auditors,” noting the management discussion would be finished and the board would accept the audit report the following Thursday, which then permits the completion of three years of historical financial reports needed for the budget presentation.

The presenter laid out a multi‑month budget schedule: a governor’s proposed budget would be available the week of Feb. 3–7 (or in March if there is a new governor), a February 20 board meeting reserved for recommended budget transfers to align newly realized state revenues and to fully fund health insurance, and a sequence of budget presentations in March, April and May leading to proposed budget display and formal vote timing described to the board. "We would look to ... use those funds to fully fund, the health insurance because if you recall, we we we shorted that a little bit," staff said.

On reserves and the district’s pension funding, board discussion centered on how much of the required reserves are held in a trust and how interest on those reserves is allocated. A board member said the district is required to maintain six months of reserves and that the district currently holds an excess — described as six or seven months beyond the requirement — and that interest earned in the trust remains in the trust. A representative explained the district did not fully fund the actuary’s recommended contribution for the current year and estimated the shortfall at “probably 400 and some” and “I think it was 420,000.” The speaker said staff prefers to bring revenues and transfers up to fully fund that obligation to avoid a larger jump next year.

No formal budget votes were taken at the meeting. Staff asked board members for input on the proposed timeline and said they would bring the audit report and subsequent budget transfer items back at the scheduled meetings for formal action when required.