Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Eastern York finance team reports year-end surplus, flags health-insurance costs and outlines capital wish list
Summary
Finance staff told the Operations Committee the district closed the year with an adjusted profit (after transfers), an ending fund balance of $10,691,000 (unassigned 6.68%, below the 8% threshold), noted a $400,000 spike in prescription costs driving benefit concerns, and presented a capital wish list including HVAC, elevator refurbishment and a forklift.
Eastern York School District — District finance staff gave the Operations Committee a detailed year-end review and capital-planning update, reporting positive results compared with the original budget but noting ongoing cost pressures in health insurance and several capital needs.
The presenter said the district budgeted a $2,337,000 loss but closed with a $20,000 profit. After a $1,000,000 transfer from the general fund to capital reserve the adjusted result was effectively a $1,000,000 positive swing. "We have an ending fund balance of $10,691,000," the presenter said, adding that the unassigned fund balance stands at about 6.68% of budgeted expenses, below the 8% threshold that can trigger tax-raise considerations.
Revenue performance exceeded budget in several local lines: earned-income tax collections were stronger by about $252,000 and interest income exceeded budget by roughly $211,000. On expenses the largest near-term risk is health insurance: staff reported roughly a $400,000 increase in prescription-drug cost driven by a small number of expensive medications (including certain weight-loss and inflammation drugs), and said the district and vendor are exploring alternative therapies and stricter controls.
On capital planning, facilities staff reviewed bids and recommended rebidding a geothermal/HVAC pump project after a bid was found to omit three variable-frequency drives (VFDs). The facilities wish list — discussed against a $500,000 target cap reserve allocation — included an elevator refurbishment at the middle school, blinds replacement, Wrightsville classroom flooring, air-handler reconditioning, and a proposal to purchase a propane forklift instead of repairing an aging dock lift. Staff discussed using cooperative procurement (CoStars/Omni) and staging summer projects to get better contractor availability and pricing.
The presenter said some state-budget components (basic education and special-education subsidies) will be reflected in future budgets after the official Form 3.63 is released; staff estimated a $259,000 positive effect if certain proposed savings materialize. Board members asked for follow-up details on cyber charter tuition adjustments, the Act 80 reporting process for earned-income taxes and scheduling for capital projects. The finance presenter said auditors remain finalizing compliance items and that the district expects a February board budget presentation.
No formal motions or votes were recorded in this segment. Staff will bring refined project estimates and updated state-form impacts to future meetings for board consideration.
