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Salisbury Township SD finance panel flags $1.1M net surplus, sets April forecast deadline
Summary
The district’s finance committee traced most of a roughly $1.1–$1.3 million year-to-date fund-balance gain to unbudgeted interest and one-time auditor entries and asked staff to deliver Forecast5 projections by April to guide tax and capital decisions.
The Salisbury Township School District’s finance committee spent most of its Feb. 5 meeting parsing an unexpected year-to-date surplus and pressing staff for a district forecast to inform any tax or capital decisions.
Miss Nickisher, the business-office presenter, told trustees the district has seen far more interest revenue than budgeted — noting $1,382,362 linked to a land sale produced roughly $21,862.62 in interest — and that auditor journal entries and timing effects increase reported revenue this year. "I just wanted to pull that out at the bottom to show that the $1,382,000 is above what we actually budgeted for the year," she said as the committee reviewed revenue variances.
Why it matters: Trustees said the board needs a clear, defensible forecast so the public understands whether higher year-end balances reflect recurring revenue or…
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