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Finance committee reports preliminary $2.25 million cash surplus, raises purchasing thresholds
Summary
Finance Director Barb Leonte told the Finance & Revenue Committee the borough ended 2025 with a preliminary cash‑basis surplus of $2,245,626.26, noted the figures exclude accruals, and outlined changes to purchasing rules, reinstatement of P‑cards and a new revolving loan fund for building renovations.
The West Chester Finance & Revenue Committee heard that the borough ended 2025 with a preliminary cash‑basis surplus of $2,245,626.26 and moved to tighten procurement rules.
Finance Director Barb Leonte told the committee the figures are cash basis and will differ from audited (accrual) results: "This is on the cash basis. There's no accruals in these numbers," she said, adding audited financials will reflect accounts receivable, salaries and other accruals. Leonte also reported the Sewer Fund had a positive net position of $1,297,415.14 and the Parking Fund about…
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