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CFO reports roughly $19.6 million budgetary surplus; committee discusses assignment to capital and health-care reserves
Summary
The district’s CFO reported an expected audited surplus of about $19.6 million driven largely by higher interest earnings and personnel savings; the committee discussed assigning funds to capital reserves and to self‑insured health-care reserves rather than committing them immediately.
Tara Hauser, chief financial officer for North Penn School District, told the Finance Committee the district anticipates an audited general-fund surplus of about $19.6 million at the end of this audit year.
Hauser said the surplus primarily reflects extraordinary interest earnings from higher market rates and personnel savings. She reviewed the difference among committed, assigned and unassigned fund balances and explained that funds moved from the general fund (fund 10) into capital funds (fund 30 series) are restricted to capital use and cannot be…
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