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Pleasant Valley finance report: capital reserve $20.4M, EBTEP reserve healthy; 2627 budget calendar laid out
Summary
Business office reported capital reserve and consolidated bond balances, noted EBTEP reserves exceed the required minimum, and presented the district's calendar for the 2627 budget cycle including a January board resolution to not exceed the Act 1 index (4.8% for 2627).
Finance staff presented a multiitem finance update to the board, including current balances and a full 2627 budget timeline.
The finance director reported available balances in district accounts: a Capital Reserve balance of approximately $20,377,662.13, a 2018 bond account balance of $0, and a Consolidated Bond account balance of about $2,984,006.54. On the EBTEP (healthcare/benefit) reserve, staff said the balance at August 31 was $5,647,549.68, equivalent to about 5.5 months of…
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