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Lower Moreland warns of multi-year fund balance decline; administrators propose 3.5% millage increase and spending controls
Summary
District finance staff told the board the fund balance fell from a COVID-era peak and recent operating deficits have created a projected near-term shortfall; administrators proposed a 3.5% Act 1 millage increase and outlined mitigation steps including tapping transfer/interim taxes and tightening discretionary spending.
District finance staff presented a detailed budget update showing the Lower Moreland Township School District has drawn down multi-year fund balances and currently faces an operating gap the administration is working to close.
Introduced by the administration, Mrs. Ovington said the district's fund balance peaked at about $7.13 million in 2021-22 but has declined after recent annual deficits. "Basically, our fund balance is absorbing this operational deficit," she told the board during the presentation. She reported budget shortfalls of roughly $1.9 million in 2023-24 and $3.4 million in 2024-25 and said that, as of February, transfer and interim tax receipts were lower than projected from a 55-plus development the budget had assumed.
Ovington gave a current-year projection showing a $1.35 million deficit as of…
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