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Northern Lebanon SD reports $1.2M interest, $300K transfer tax windfalls; board approves 5-cent lunch price increase
Summary
The school board was told the district received unusually high interest income and a transfer tax payment and approved a 5-cent increase in school lunch prices; officials said they remain able to pay bills despite a state budget impasse.
Northern Lebanon School District officials told the board Tuesday that the district’s local revenues exceeded expectations last fiscal year, led by unusually strong interest income and a transfer tax payment tied to a commercial property sale.
Director Krieser said the district earned about $1,200,000 in interest income during the 2024–25 fiscal year, and that real estate tax collections—current and delinquent—came in more than $500,000 above budget. She said a transfer tax from the sale of the Crayola warehouse, purchased by Bell & Evans, generated about $300,000 for the district. “All of that said, our local income came in 1.7 over budget,” Krieser said.
Krieser said the district has cash on hand and can pay bills despite a continuing state budget impasse. She added the district intentionally delayed a larger bond issuance and plans to reevaluate its construction fund and borrowing in the fall.
On operational costs affecting families, the board approved a 5-cent increase in lunch prices discussed at last week’s meeting. Director Palau moved to approve item 9.1 and Director Krieser seconded; members voted in favor unanimously.
Board members discussed the impact of the state budget impasse on payments to charter schools. Krieser said the district will not pay charter school bills until state funding arrives, noting the state’s mechanism of offsetting future state payments to districts when districts do not pay charter bills.
The district listed plans to review several budget scenarios at the January budget session and said it would reassess construction borrowing and the construction fund this fall.
The board’s approval of the lunch price increase was recorded during the meeting’s business session; no public comment was offered on the item.
Minutes and other routine consent items related to finance were approved earlier as part of the consent calendar; that motion carried with one abstention on item 7.8.
