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District finance chief walks board through unaudited 06/30/2025 balance sheet; $18M earmarked for capital
Summary
District finance staff presented the unaudited 06/30/2025 balance sheet, noting $7.2M in cash, $11M in capital-reserve funds and $7M in bond funds, much of which is committed or restricted; staff warned some bond proceeds face IRS arbitrage rules and said a tax increase remains possible as budget work continues.
Belinda, the district finance presenter, told the Gettysburg Area School District board the unaudited balance sheet for the fiscal year ending June 30, 2025, shows significant cash and reserve balances but also material restrictions that limit how that money can be used.
"First and foremost the cash and cash equivalents, the number that's listed there, specific point in time again $7,200,000," Belinda said, adding that the district also holds investments in PSLAF/PLGIT and flex CDs.
Why it matters: The statement is a point-in-time snapshot of what the district owns, owes and has available for education, Belinda said, and does not represent free cash…
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