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Oley Valley SD warns of cash-flow strain as Pennsylvania budget remains unsigned
Summary
Board members heard staff say delayed state funding could leave Oley Valley SD roughly $1.8 million short of expected revenues this year; July tax collections temporarily covered expenses but leaders warned of lower cash flow and possible short-term borrowing if the state budget is not enacted.
Oley Valley School District board members were briefed Aug. 11 on the financial strain caused by the ongoing delay in the Pennsylvania state budget and how it could affect the district’s cash flow this school year.
Mr. Klein, who delivered the legislative report, said the Pennsylvania Department of Education set an Aug. 12 deadline for information to process August payments and that because the General Assembly had not passed a budget "our August payment as a school district will not come through until a budget is…
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