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Superintendent says Steelton-Highspire SD will present a balanced budget in two weeks
Summary
Superintendent Slade told the board the district will bring a balanced budget to a vote at its next meeting after using targeted revenue draws, a smaller-than-expected health insurance renewal and not refilling two vacant positions; trustees also discussed a likely $4 million short-term transition loan with PFM to protect July/August cash flow.
Superintendent Slade told the Steelton-Highspire SD board that the district will present a balanced budget for approval at the next board meeting, in two weeks. "In two weeks you'll be asked to approve a budget that balances," Slade said, and credited administrators and staff for late-year efforts that helped close a previously reported roughly $1 million shortfall.
Slade outlined the measures that closed the gap: a measured draw-down of available funds held at the state, targeted revenue enhancements, and a health insurance renewal that rose about "6 and a half" percent rather than the roughly 12 percent the district had originally projected — a difference he said equates to roughly $230,000–$240,000 versus the earlier estimate. He also said the district would not refill two positions that became vacant after an enrollment drop, which reduced projected staffing costs.
Board members offered brief congratulations on the progress and on recent graduation ceremonies. The superintendent emphasized that the balanced budget is consistent with the district’s financial recovery plan and that staff will continue to evaluate enrollment and programming in the coming year.
Separately, trustees discussed short-term transition financing with financial advisors PFM; Slade and a board member said the district is "working with PFM" and has previously seen consultants Jamie Doyle and Melissa Mays. Slade said the transition funding would likely be "in the neighborhood of $4 million" with Mnt Bank, structured with amortized payback that could be paid off early without penalty to limit interest costs and ensure the district can meet July and August bills.
No formal vote on the budget or on financing occurred at this meeting. Public comment periods recorded no speakers. The board moved to adjourn at the end of the session; the balanced budget and any financing terms will return for action at the next board meeting.
