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Finance committee presents balanced 2026–27 budget proposal, outlines 3.5% tax increase to address rising special-education and pension costs
Summary
Administration reported a balanced proposed final budget with $144,636,832 in revenue after additional savings; the committee heard that assessment declines and unfunded mandates (special education and pensions) drove a recommendation for a 3.5% real-estate tax increase, illustrated as about $284 per year for a median-assessed home.
Cheltenham School District administrators told the finance committee they had eliminated a projected $735,000 deficit and produced a balanced proposed final budget for the fiscal year ending June 30, 2027, reporting total revenue and expenditures of $144,636,832.
The business manager said the budget remains under pressure from two primary drivers: a decline in assessed values that lowers local revenue and rising unfunded mandates, particularly special-education costs and pension contributions. The administration said charter-school tuition and the end of ESSER federal funds have also affected revenue timing.
To avoid using reserves, administrators recommended a 3.5% increase to the real-estate tax rate. Using a median home assessment figure cited by the administration ($143,000), the presenter estimated the increase would amount to roughly $284 a year (about $24 per month) for that property.
The administration reported $11,000,000 spent year-to-date on capital projects (including stadium work at Glenside and Cedarbrook) and $15,000,000 in bond revenue collected for designated projects. Interest income was estimated at about $2,000,000 in the revenue line, and the administration said it treats that estimate conservatively given Federal Reserve uncertainty.
The committee also heard a recommendation to exercise a five-year renewal option with Shondheim Transportation; administration said the renewal percentage increases were lower than surrounding districts and that exercising the option early would include a $200,000 contribution to the Cheltenham Education Foundation. Administration reviewed a $2,000,000 MCIU shared-services cost plan that appears in the special-education professional services line for services such as emotional-support and autistic supports.
Administrators listed several items headed to the June 9 legislative meeting: approval of deposit and investment arrangements for district bank accounts, cooperative purchasing agreements, designation of purchasing agents, insurance renewals, and keeping lunch prices flat for the next year. The administration also explained the homestead/farmstead allocation process (from gambling revenue) and reported $5,056,000 allocated to participating homeowners this year.
There was a unanimous vote earlier in the meeting to approve the May minutes; no final vote on the budget or transportation renewal was recorded at this meeting. The administration said it will bring the final budget and the listed approvals to the June legislative meeting for action.
