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Berwick Area SD leaders recommend assigning budget surplus to future capital projects
Summary
Board finance and budget committee members reported a one-time surplus driven by ESSER reimbursements, missed debt-reimbursement submissions that were recovered, and higher investment interest; staff recommended assigning the general fund balance to future capital projects and updating the district Annual Financial Report (AFR).
Acting Superintendent and budget committee members reported that the district realized a one-time surplus and recommended assigning the general fund balance to future capital projects to preserve flexibility while reflecting the balance in state filings.
The committee presentation said the surplus arose primarily from three sources: ESSER (COVID relief) reimbursements that raised available funds to roughly $4,000,000 over three years; debt-reimbursement submissions that were not…
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