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Cheltenham SD finance committee: $30M reserve, state grant timing shifts revenue recognition; audit clean
Summary
The Cheltenham School District finance committee reviewed interim statements through Dec. 31, 2025, was told the district retains a roughly $30 million reserve, learned state budget timing shifts Ready to Learn/tax-equity recognition into next year, heard a clean independent audit opinion, and placed three items on the upcoming legislative agenda.
At its regular finance committee meeting, Cheltenham School District staff told members the district remains structurally balanced with a substantial fund balance while changes in the state budget shifted the timing of two school‑aid allocations.
Presenter Mr. Swadhart led the review of interim financial statements through Dec. 31, 2025, saying the district "still have a relatively robust, fund balance of $30,000,000, in reserve." He told the committee local revenue this year is about $102,000,000, driven by higher real‑estate collections and stronger than expected investment income, while 70% of district spending is staffing and related benefits.
The discussion focused on recent state budget details that affect grant timing. Mr. Swadhart explained that the Ready to Learn foundation grant historically shown at about $340,333 was displayed differently on the state's spreadsheet (an interim presentation showed a larger…
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