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Jenkintown SD finance staff report small revenue adjustments, continued surplus position
Summary
Finance staff reported a modest increase in property-tax-relief allocations and a reduction in state special-education reimbursement; overall the district still projects a surplus and will present a proposed final budget for board consideration.
District finance staff reviewed updates to the revenue and expenditure outlook: the district received notice of an adjusted state property-tax-relief allocation that increased the property-tax revenue estimate and requires a corresponding real-estate-line adjustment; staff also reported a reduction in prior-year special-education funding (noted in the presentation as a $25,976 decrease).
On expenditures, staff identified some upward adjustments tied to employee cost changes and noted offsetting savings from staff turnover; overall, the presentation characterized the district's financial position as strong and estimated a surplus that will support recommended reserve and match obligations for pending grants.
Staff said the proposed final budget will be brought to the board for consideration at an upcoming meeting and that they do not expect substantive changes before the vote. A grant decision for a facilities match was discussed and staff said the match would likely come from the district's fund balance.
Next steps: Staff will finalize the proposed budget and present it for board action in the coming meeting cycle.
