Conestoga Valley previews budget results; fund-balance resolution slated for next week

Anthony, the district’s business-office lead, told the Conestoga Valley School District board on Oct. 14 that administrators had intentionally budgeted a $2.0 million deficit for 2023–24 but closed the year with roughly a $1.2 million deficit. He said the district is proposing adjustments to commitments and assignments that would bring the unassigned general-fund balance to about $6.7 million, or roughly 7.2% of the 2024–25 budgeted expenditures.

Those adjustments will be presented as a resolution on the consent agenda at the board’s next meeting, Anthony said. Board member Hunsinger praised the business office for an “excellent audit,” noting auditors followed up on only a few outstanding items and that a full audit presentation will appear in November.

The board also reviewed revenue- and expenditure-side details that shaped the year’s results. Anthony said the district benefited from lower-than-expected prescription costs and salaries because of open positions, while costs tied to special education and substitute services were higher than budgeted. He said a previously planned transfer of $554,000 from the construction fund to debt-service accounts was suggested by the district’s bond advisor but that administrators proposed leaving those funds in construction instead.

Administrators highlighted the Act 1 index at 4.0% — the state cap that limits millage increases without applying for referendum exceptions — and said newly received state adequacy supplements may limit eligibility for certain exceptions. The district will present its 2025–26 budget calendar and the local audit report in the coming meetings.

Next steps: the board will consider a formal resolution on the fund-balance commitments on next week’s consent agenda and will receive the local audit report in November.