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Wyoming Valley West reports $1M capital transfer, $5.2M delinquent tax inflow
Summary
At the March 11 meeting the finance committee reported a $1,000,000 transfer from general to capital funds and a February inflow of over $5,200,000 from delinquent real estate tax sales; the board approved finance recommended items and bills for payment.
Finance committee member Wilson told trustees the district is keeping revenues ahead of expenses and that the finance committee and business manager transferred $1,000,000 from budgeted general funds into the capital fund to support future infrastructure needs. He also said the district received a cash inflow of "over $5,200,000" in February from the sale of delinquent real estate taxes and that the committee is seeking secure options to invest those proceeds.
Wilson reiterated the board’s respect for teachers while arguing the district needed realistic cost‑sharing on health benefits; he framed the proposed premium share using per‑employee health cost figures and estimated per‑paycheck impacts. Later in the meeting the board moved, seconded and approved the finance recommended action items, including bills for payment, the finance manager’s report and the treasurer’s report.
What’s next: The finance committee will report on investment options for the delinquent‑tax proceeds and monitor capital spending; the board approved the recommended finance items during the March 11 meeting.
