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Preliminary audit shows roughly $195,000 positive; district's adjusted Act 1 index set at 4.7%
Summary
The district's preliminary 2024'25 audit results showed a roughly $195,000 positive variance (about $100,000 more than the June estimate), and administrators reported the state'calculated Act 1 adjusted index for the district is 4.7% (base 3.5%), information the board said will guide budget preparation.
The district finance presenter (speaker 4) told the board the preliminary local audit for 2024'25 shows the district is more positive than previously estimated.
"The preliminary audit results are coming in at ... $195,000," the presenter said, adding that figure is about $100,000 higher than the estimate presented in June, which had showed about $90,000 positive. The presenter characterized the variance as roughly 0.2% of the district's approximately $36 million budget and said the number is unlikely to change before the final audit is released in December.
The presenter also summarized Pennsylvania's Act 1 index framework for school budgets: a 3.5% base index and a district-specific adjusted index that accounts for the district's state-aid ratio. For the coming year the district's adjusted Act 1 index was cited as 4.7%, the presenter said, and that percentage represents the automatic inflationary increase the district could apply without filing exceptions.
Board members were told the finance office will incorporate the audit and the index into the budget-preparation process; the presenter said administrators will report monthly to the board through the budget cycle and will present the final audit for approval in January.
