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Delaware Valley SD staff recommend moving surplus to capital; board to consider transfer next week
Summary
District finance staff recommended transferring a surplus generated in the last fiscal year into the capital projects fund and asked the board to place that transfer on the agenda for a vote next week. Board members voiced concern about state budget timing and cash flow before approving any transfers.
Delaware Valley SD finance staff recommended the board approve a transfer of recent surplus funds into the district capital projects fund and asked the board to place the transfer on the agenda for a vote next week.
The recommendation, presented during the board work session, summarized revenue and expense variances that produced the surplus: roughly $810,000 in revenue over budget (including about $484,000 in delinquent taxes that are hard to predict); expenditures under budget by about $354,000; and a health‑insurance funding adjustment of about $829,000 that affected fiscal accounting. Staff said those three components together explain the roughly $1.99 million of…
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