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CFO warns of deteriorating fund balance; Elizabethtown’s Act 1 maximum set at 4.3%
Summary
District finance staff told the Elizabethtown board the district is not in receivership but fund‑balance trends are concerning; under state Act 1 rules the district’s maximum tax index without exceptions is 4.3%, and the board signaled it will likely stay at or below that cap.
The Elizabethtown Area School District’s finance director presented a fiscal update at the board’s December workshop, telling directors the district is not in receivership but noting multi‑year trends that could erode fund balance and affect borrowing costs.
"Right up front, we are not in receivership," the CFO told the board while walking through Pennsylvania Department of Education early‑warning indicators. He showed the district’s market value/personal income aid ratio (about 0.49) and described fund‑balance metrics used by rating agencies and PDE to flag districts at risk.
Strickl…
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