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Finance committee: district revenues up year-over-year but expenditures projected to exceed budget by $2.5 million
Summary
Finance committee reported that February revenues increased by $4.6 million year-over-year (total revenue ~ $163.9 million), but projected expenditures are expected to exceed budget by more than $2.5 million; general fund expenses and encumbrances reported at $174,240,058.42.
At the March 23 Tredyffrin/Easttown School Board meeting, finance committee chair Ken Torcik reported higher year-to-date revenues but flagged a significant expenditure projection.
Mr. Torcik said February revenues were higher than last year by about $4.6 million and described total revenue through February 2026 as "163.9 million dollars." He added that, without counting encumbrances, roughly 58 percent of the budget had been expended year to date; when encumbrances are included, the committee reported total general fund expenses and encumbrances of $174,240,058.42.
The administration projects expenditures to exceed the current budget by over $2.5 million, Torcik said, and the committee plans to review that projection in more detail at the next budget workshop in April. The committee also discussed local real estate tax receipts running under budget due to appeals and the implications for future revenue assumptions.
Committee materials and a budget workshop video are posted on the district website, Torcik said; the finance committee will meet next on April 13, followed by a budget workshop focused on expenditures.
What this means: The board is moving into a budget planning phase with an acknowledged shortfall projection. Administrators and the finance committee signaled further review and modeling ahead of the 2026–27 budget approvals.
