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Upper Perkiomen finance committee cites audit progress and roughly $2.1 million budget gap
Summary
At the March 28 workshop the finance committee reported an audit presentation by Gorman & Associates with corrective actions in progress, discussed security procurement through IU consortia, and said the district budget is currently about $2.1 million in deficit; the committee also noted a $23,649.74 liability-insurance dividend.
The Upper Perkiomen School District’s finance committee reported on March 28 that last year’s audit by Gorman & Associates identified issues that are being addressed and that corrective actions are underway.
The finance committee chair said the auditors "had no problem with what we were doing" and described ongoing corrective actions. The committee also discussed procurement of security services (SentinelOne and Rubrik) through intermediate unit consortia to secure better pricing.
During the finance update the chair said the district is facing a budget shortfall of about $2.1 million and continues work on salary, benefits and revenue projections to close that gap. The committee also reported receiving a $23,649.74 dividend from the district’s liability-insurance carrier after a favorable regional year.
Board members were reminded that some reserve or activity funds must be spent before September 2024 or be lost, which influenced the committee’s recommendation to use certain SR funds for upcoming expenditures. The committee scheduled further budget work and will continue efforts to refine projections ahead of final budget actions.
