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District finance director says federal awards updated; state subsidy delays unlikely to cause cash-flow problems
Summary
CFO Christopher Lyonetti told the board the federal Title I/II/III award total is $1,364,340 (about $33,165 less than budgeted) and that state subsidy delays might hold roughly $8 million in expectation but are not expected to create a cash-flow problem this fall.
The Abington School District’s chief financial officer, Christopher A. Lyonetti, updated the Board of School Directors Aug. 12 on federal award changes and the status of state subsidy payments as the district enters the 2025–26 school year.
Lyonetti said the Federal Programs grant process reopened for 2025–26 with updated award figures for Titles I, II and III. "The total award is $1,364,340, which is $33,165 less than the amount reflected in our 25–26 budget," Lyonetti said. He said the teaching and learning department had planned programmatically for a slightly different figure and that final award amounts are not typically finalized until January.
On state funding, Lyonetti said the Commonwealth has not completed its budget and the Department of Budget sent a notice that subsidy payments could be delayed. He said roughly $7.9 million of state property-tax-related funds are in question because a portion of homestead allowance funds is typically received in September; Lyonetti said the district currently expects about $3.8 million of that to arrive in September but does not expect a cash-flow problem because the district is in its highest real-estate revenue collection period in August and September.
Lyonetti told the board he is monitoring the situation and will report additional information as it becomes available. Several board members asked clarifying questions about which payments are affected; Lyonetti outlined that basic education and special education subsidies and a small transportation subsidy are among the items that could be delayed.
Ending: Lyonetti said the district is in a position to meet its near-term obligations even if state subsidy payments are late, and will continue to update the board as the budget process unfolds.
