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Fox Chapel Area SD accepts unmodified audit, approves finance items and budget transfers
Summary
The Fox Chapel Area School District board accepted an unmodified audit for fiscal year ending 6/30/2025, heard auditors report a $2.6 million net increase in fund balance, and approved seven finance actions including disbursements, budget transfers and a resolution not to exceed the Act 1 index for 2026-27.
The Fox Chapel Area School District board on Jan. 12 accepted an unmodified audit opinion for the fiscal year ended June 30, 2025, and approved seven bundled finance items including general-fund disbursements, capital-fund disbursements, budget transfers and a resolution regarding the 2026-27 tax rate.
At the meeting, the district's independent auditor summarized the financial statements and related notes, reporting total general-fund revenues of about $118 million and expenditures of about $114 million, yielding a $2.6 million net increase in fund balance. The auditor said the district's committed fund balance included roughly $6.82 million set aside for retirement-related increases and small ARCH grant reserves; assigned balances included…
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