TESD finance committee recommends $5.5 million capital transfer after audit review

The Tredyffrin‑Easttown School District finance committee reported on Oct. 27 that local revenues are up by about $4.1 million compared with last year and that total revenue year‑to‑date is approximately $130.3 million.

At the meeting Dr. Roberta Hatinsky, finance committee chair, summarized September financials presented by the assistant business manager and reported general‑fund expenses and encumbrances at $146,489,229. The auditors are nearing completion of the 2024–25 audit; committee discussion focused on a planned transfer from the general fund to the capital fund.

Administration had proposed a $6,000,000 transfer to the capital fund but reported that, based on updated revenue and expenditure figures, moving the full $6 million would reduce the district’s fund balance by almost $500,000 and could affect the district’s bond rating. After discussion the committee agreed to include a $5,500,000 transfer in the audit and related documents.

Committee members also reviewed the Act 1 index for the coming budget year, which is 3.5%, and noted it would generate roughly $6.7 million in additional real‑estate tax revenue in the district if fully applied. A preliminary estimate for a referendum exception of 1.4% could generate up to $2 million; those figures remain subject to further analysis.

The committee said the $5.5 million transfer is proactive funding for current and future capital projects including athletic fields and the new Bear Hill Elementary School. The finance committee will continue budget discussions in upcoming December and spring meetings; members encouraged public attendance for budget workshops and committee sessions.