Finance committee: forecast shows improved fund balance; committee clears bond parameters, Comply contract and capital awards

The West Chester Area School District property finance committee on March 17 reviewed an updated budget forecast showing a stronger-than-expected year-end fund balance for 2024–25 and took committee-level actions on borrowing authorization, procurement and capital projects.

Finance staff told the committee the district's ending fund balance projection for the current year (2024–25) increased by about $1,034,000 versus previous forecasts; staff said they plan to use that additional balance to help offset pressures in the 2025–26 projection. The forecast review also showed a $300,000 reduction in anticipated teacher-salary spending (driven largely by lower-than-budgeted extra-duty pay), internal reclassification of certain professional personnel costs between salaries and contracted services, and a $200,000 pass-through grant for student-teacher stipends. On revenues, staff reported higher collections for current real-estate taxes and modest increases in earned-income and transfer tax projections.

For the 2025–26 outlook, staff reported an increase in expected charter-school…