Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Cheltenham SD finance committee hears interim figures: $127M revenue through April; charter tuition timing drives variance
Summary
At a May 5 finance committee meeting, district staff reported $127 million in revenue through April and a $19.5 million net fund balance; officials warned that late charter-school tuition bills and timing of state tax-equity payments create year-to-year volatility in the operating picture.
At a May 5 meeting of the Cheltenham School District finance committee, finance staff member Josh Swingard presented interim financials through April showing $127 million in revenue and $107.9 million in expenditures, leaving an excess fund balance of $19.5 million as of April 30, 2026.
Swingard told the committee the revenue increase over last year is driven in part by recognizing $2.2 million of tax-equity receipts that are parked as deferred revenue for the 2026–27 school year and by a $900,000 capital improvement grant. "We have $127 million of revenue through the end of April versus $123 million at this time last year," Swingard said during his presentation.
He warned that timing—rather than a structural change—explains much of the apparent improvement. The district typically receives the bulk of state subsidy in a June 1 wire; recognizing tax-equity checks earlier in the cycle can make a given fiscal year look stronger. Swingard said the $2.2 million recognized this year is slated for the 2026–27 school year and is therefore recorded as deferred revenue until it is used to offset future tax increases.
Board members pressed for detail about charter-school tuition, which Swingard said is a significant contributor to monthly variability. He explained that delays in finalizing the PDE-363 tuition-calculation form last year pushed retroactive charter invoices into March and April, producing roughly $900,000 of bills for the 2024–25 year that were processed late. "A lot of our charter school payments… flow in" late, Swingard said, adding that the district reviews residency for each student and disputes charges where appropriate. Some disputes can advance to a legal process and be reconciled over multiple years.
Swingard provided enrollment context: "We have about 140 students out of 4,100 that attend public charter schools," he said, noting the district has roughly 141 cyber charter students. He said the district budgets about $3.5 million for charter tuition for those students.
Committee chair Daniel Schultz and members asked whether the tax-equity receipts would recur; Swingard said allocations vary and the timing of collections can differ year to year. The committee was reminded the postfinal budget is posted online and that formal adoption is planned for the June 9 legislative board meeting; any increases beyond the advertised tax request would require re-advertising.
The committee did not take formal budget votes at the finance meeting; next procedural steps are the scheduled June 9 adoption at the legislative board meeting.
