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Finance staff: Berwick Area SD cash position stable but a short-term loan may be needed if state budget impasse continues
Summary
Finance staff reported a general fund balance of $18,000,000 and an estimated $12,000,000 after November bills and payroll, warned December will include three payrolls and roughly $6,000,000 in outlays, and said the district could seek a short-term loan if the state budget impasse persists.
District finance staff told the board the district's financial position remained stable through Oct. 31, but that uncertainty from a state budget impasse could force short-term borrowing early next year.
Kristine reported year‑to‑date expenditures of about 19.8% and a general fund or cash balance of $18,000,000. She said that after processing November bills and payroll the district estimates a balance near $12,000,000. Kristine added that December includes three payrolls and operating expenses that will total about $6,000,000 and said, "we will eventually if the state doesn't pass the budget, we'll start to look into maybe having a short term loan."
Staff emphasized that strong local real‑estate revenues have helped the district remain stable to date, but warned that continued state funding delays would require conversations about cash flow and borrowing. Kristine also updated the board on the Burke Hospital tax appeal's court scheduling, noting a confirmation hearing was rescheduled to Friday, Nov. 7.
Board members did not take formal action on borrowing at the meeting; staff said they would reassess cash‑flow needs in the coming weeks as state decisions and local collections become clearer.
