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PDE names chief recovery officer as Chester Upland reports audit progress and smaller projected shortfall
Summary
At a public meeting April 24, the district's receiver said Pennsylvania Department of Education has appointed Dr. Eric B. Holmes as chief recovery officer and updated the community on audits and the district's financial outlook, including reduced unpaid liabilities and an upcoming audit expected to clarify fund-balance estimates.
The Chester Upland School District's receiver told the board and the public on Thursday that the Pennsylvania Department of Education has appointed Dr. Eric B. Holmes as the district's chief recovery officer and that upcoming audits should materially change the district's projected fund balance.
The receiver said PDE's appointment is in response to the district's recovery plan and that Dr. Holmes will begin on July 1, 2025. The receiver described the appointment as part of implementing the recovery plan and said a meet-and-greet will be scheduled "at the appropriate time."
The receiver also addressed a widely circulated figure in the district's recovery-plan documents. He said a $365 million negative fund-balance figure in the plan represents a worst-case scenario "if we do absolutely nothing with implementing our recovery plan." He added that PFM's modeling shows that implementing…
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