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Board hears 2026–27 budget timeline and reserve plan aimed at protecting bond ratings
Summary
District finance staff updated the board on a revised 2026–27 budget schedule—preliminary approval April 28, final June 9—and a plan to hold $1,180,762 in budgetary reserve to shore up general-fund balance and Moody’s rating while administrators prepare detailed adjustments.
District finance staff told the board April 14 that the 2026–27 budget timeline must shift to allow adequate time to incorporate recent board decisions and comply with the state’s 30-day display requirement.
Mr. Strickler explained the administration will present a preliminary budget at the April 28 meeting and seek final approval on June 9 to ensure the district meets Pennsylvania’s required display period. He said the administration will present adjustment options across the May meetings but that a final budget must be adopted in June.
To protect the general fund and bond ratings, Mr. Strickler recommended holding $1,180,762 in a budgetary reserve that will be placed in a short-term certificate of deposit after the audit and moved into fund balance; the goal is to preserve or improve Moody’s rating by increasing the general-fund balance over the next two years. He described the mechanics of the reserve and said the amount will appear as a line in monthly statements for board oversight.
The board also received a brief update on IU13’s proposed operating budget increases (core services up ~2.4%; district contribution estimated at 2.0%) and discussed timing for advertising and display obligations tied to tax-rate language in the preliminary budget.
No final budget vote occurred at the workshop; administration said the board will have two meetings in May to make adjustments before final adoption in June.
