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Cheltenham finance committee flags $5.8M preliminary budget gap for 2026–27; options include fund balance, cuts or limited tax increase
Summary
Administration presented a preliminary 2026–27 budget projecting a $5.8 million gap driven by a 22% health-insurance spike and lower real-estate assessment revenue; the committee discussed using fund balance, expenditure reductions and constrained tax capacity under Act 1.
Administration told the finance committee that preliminary numbers for the 2026–27 school year show total projected expenditures of about $146.7 million against projected revenues of roughly $140.0 million, leaving a roughly $5.8 million shortfall.
"We have a $5,800,000 gap to fill somewhere along the line between now and the end of the school year," said the administration presenter. He noted the projection does not include a tax increase and said the gap could be covered by a mix of tax increases, reductions, or use of fund balance.
Administration identified several drivers of the shortfall: a projected approximately $1.6 million decrease in…
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