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Derry Area SD treasurer’s report shows district using reserves amid state funding impasse
Summary
The board heard a treasurer’s report showing an ending balance of $90,185.09 as of July 31 and was told state and federal funds were not flowing due to a budget impasse; officials said the district will rely on reserves and investment returns while the pause continues.
At the meeting, the district’s treasurer presented financial statements showing an ending balance of $90,185.09 as of July 31 and reported total disbursements of $2,946,126.08 for the prior period.
District staff told the board that, because of a state budget impasse, the district had received no state or federal funding for July and August and likely into September.…
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