TESD finance report: revenues up, $6 million earmarked for capital projects; budget adoption set for June 9

The Tredyffrin‑Easttown School District finance committee reported on May 27 that year‑to‑date revenues are up compared with last year and that the district remains on track to contribute $6 million to the capital fund to support on‑going projects.

Finance report highlights included: year‑to‑date revenues higher than the prior year by approximately $8,250,000; the real‑estate transfer tax alone was about $962,000 higher than last year; state revenue was about $1.5 million higher; federal revenue was slightly lower but is expected to exceed this year’s budgeted amount. Total revenue as of April 2025 was reported at a little over $166,670,000 (about 92 percent of budget). On the expense side the district reported total general fund expenses and encumbrances as of April at $172,222,997.51.

Administration reviewed the 2025–26 budget calendar: a finance meeting is set for June 5 to finalize outstanding items, and the board will consider adoption of the final budget at its regular meeting on June 9. The administration also noted the state homestead and farmstead deduction per homeowner increased to $344 from $303 — a $41 increase — which the administration estimated translates to roughly a one‑half percent reduction in property tax for an average TE home.

Superintendent and finance officials said the district has reconciled some revenue and expense projection changes since their last presentation but remains positioned to fund the planned $6 million contribution to the capital fund for projects that include new athletic fields and the construction of Bear Hill Elementary.

Public participation included routine comments; no public objections to the budget calendar were recorded. Board members encouraged public attendance at the June 5 finance meeting (7 p.m., TEAO Room 200) and at the June 9 adoption vote.