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Sto‑Rox SD hears July financial report, warned state budget impasse is squeezing revenue
Summary
Wasson Company consultant Mike Clam told the Sto‑Rox School District board the district has adequate short‑term cash but is relying on local collections while state aid is delayed by a state budget impasse; July activity ended with roughly $12.2 million in district accounts and July expenses rose about 3–3.4% year over year.
Mike Clam of Wasson Company told the Sto‑Rox School District board on Aug. 21 that the district’s July operating activity left the district with sufficient cash for short‑term needs but that state revenue has dropped sharply because Pennsylvania had not passed a state budget. "We started at just under $13,000,000 and for the monthly activity we ended at $12,200,000," Clam said, and he noted the cafeteria account held about $808,000.
Clam walked the board through the revenue-account summary and July tax collections, reporting $1,093,000 in real‑estate tax receipts for the month and noting a large year‑to‑date variance common at the start of a fiscal year. He said local collections typically pick up in August and September. Clam warned that state revenue was “down drastically” because the state budget remained unsettled; he said that shortfall meant the district must rely more heavily on cash on hand until the state budget is enacted.
On the expense side, Clam cited total July expenditures of $754,000 compared with $729,000 the prior July — roughly a 3–3.4% increase. He said the district’s largest monthly expense categories are salaries and benefits, with salaries paid in July shown as about $166,000 and benefits accounting for the bulk of monthly spending. Clam also noted modest decreases in federal revenue (roughly $3,000) and emphasized the timing effects that can make early‑year comparisons appear large.
Clam told the board the business‑office transition from the prior vendor JMA is winding down, that Sandy and Martha have assumed increased responsibilities, and that a new business manager will begin soon. He said staff are developing a visual financial dashboard, planning a budget‑restructuring effort to better align building budgets within ProSoft, and preparing for the district’s annual audit for the 2024–25 fiscal year.
Chair comments at the meeting thanked Clam for the presentation and encouraged trustees to forward any interim questions to the business office. No formal motion or roll‑call vote on the financial report was recorded in the public portion of the transcript; administrators said staff would provide follow‑up details if board members requested them.
What’s next: administrators will continue budget restructuring work, refine the proposed financial dashboard for board review and complete audit preparations for the 2024–25 year.
