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Spring-Ford board briefs on budget progress ahead of next week's vote; $97.3M cash on hand
Summary
Finance committee reported $97.3 million cash on hand, favorable variances in earned income and transfer taxes, and an $118,000 remaining gap to index before the board's scheduled budget vote next Tuesday.
The Spring-Ford Board of School Directors received a finance update on May 18 showing the district in generally stable budget condition as it approaches a scheduled vote on the 2026-27 budget next week.
Finance Committee chair Mrs. Westwood reported cash on hand of $97,300,000 as of April 30, 2026. Earned income tax collections were $600,000 ahead of plan and transfer taxes exceeded plan by $220,000 with three months remaining in the budget year. The committee said medical claims and special-education costs were under budget this year and that food service operations had served 727,000 meals year to date.
The finance team noted an overall projected favorable variance that could result in the district coming in under budget by roughly $1.0 million to $1.2 million. At the same time, adjustments since April reduced the remaining gap-to-index to about $118,000; the board intends to vote on the 2026-27 budget next Tuesday. The Aramark annual renewal will also be on next week's voting meeting for required annual approval.
Board members thanked the finance staff and Mr. Fink for the work to narrow prior budget gaps and asked whether any outstanding questions remained before the vote. Committee members said they would continue to monitor assessment appeals (including a potential $350,000 reduction related to Upper Providence Town Center) and other near-term developments that could affect final numbers.
What happens next: The board will consider the 2026-27 budget at the formal voting meeting next week and the administration will continue to monitor appeals and final revenue collections.
