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Abington Heights projects FY24–25 surplus but flags health-insurance and charter tuition as major risks
Summary
Business officials reported a likely $800,000–$1,000,000 surplus for FY24–25 but warned the district's self-insured health plan balance is falling rapidly and cyber-charter tuition, facility bids and debt service could widen next-year deficits.
Abington Heights School District finance staff told the school board the district expects a surplus of roughly $800,000 to $1 million for the current fiscal year but described several high-risk cost drivers that could produce a large deficit in 2025–26.
Jim (business office staff) reviewed revenue and expense variances for FY24–25: year-to-date real-estate collections were about $250,000 above budget, earned-income tax receipts were up roughly 3% year-over-year, and real-estate transfer taxes were about $150,000 above projections. Investment earnings were strong enough that the district expects to “crest a million dollars” in investment income again this fiscal year, the presentation showed. On…
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