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Board hears proposed final 2026'027 budget: modest state subsidy increases, planned fund-balance drawdown
Summary
Administrators previewed a proposed final 2026'027 budget that assumes roughly $71,000 more in basic education subsidy and about $32,000 more in special-education subsidy for Haverford Township SD, and would reduce unassigned fund balance to roughly $7.3 million (~4.39%) if current plans hold. The board will consider the proposed final budget at the March 19 action meeting and adopt the final budget in May.
District finance staff presented a proposed final 2026'027 budget at the March 5 work session for information and discussion; final adoption is scheduled for May 21 with a proposed final (for action) on March 19.
Key figures the administration cited: an additional roughly $71,000 in the district's basic education subsidy (about 1 percent for Havford, smaller than the statewide proposed increase), and roughly $32,000 (about 1 percent for Havford) in the special-education subsidy based on ACT 16 data. Administrators emphasized these are preliminary figures provided by the state and that final numbers could change.
On revenues and assumptions, the draft budget uses a 3.5 percent Act 1 index and a historically consistent collection rate (the presentation used 96.5 percent but noted recent collection closer to 97.15 percent). The district reported approximately 27 students in charter schools (26 cyber and one brick-and-mortar) and described tuition adjustments under cyber-charter funding reform as cost-avoidance rather than direct savings.
Expenditure drivers remain salaries and benefits (60'65 percent of costs). The budget includes added debt service to complete renovation projects and capital transfers for summer work. Administration projected that, under the current draft, the committed capital balance would be reduced and unassigned fund balance would fall from roughly $10.9 million to about $7.3 million (an unreserved percentage near 4.39%), which is below the district's customary 5'7 percent guidance and could be a factor for credit-rating considerations.
Administrators said they will continue to refine the numbers (insurance renewals and audit closeouts remain to be finalized) and work with financial advisors (PFM) to develop multi-year stability projections and options to increase the unreserved balance. The proposed final budget will be on the March 19 action meeting agenda for the board's consideration.
What happens next: Administration will present the proposed final budget for action March 19; final adoption remains scheduled for May 21, 2026.
