The Department of Financial Affairs for the Cheltenham School District is responsible for the administration, management and compliance of District financial services. These responsibilities include the preparation, presentation, monitoring and reporting of the annual District budget; preparation of annual financial statements; payroll administration; benefit administration; accounts receivable and payable; purchasing and receiving; management of debt service and investments and monitoring of capital assets; and financial oversight of federal and state programs. The Department also provides oversight of the Food Services and Transportation Department.
The Financial Affairs Committee convened on Tuesday, Feb. 4, 2020 with Dan Schultz presiding and board members, administrators and community members in attendance. The agenda included the following: 2019-20 budget status, 2020-21 budget update and the food services management contract request for proposal (RFP) process. Business Manager Cara Michaels reported this fiscal year’s budget outlook shows CSD has collected 98,378,608 or 80.45 percent of its revenue and has spent/encumbered $64,098,374 or 52.41 percent of its expenditures. Michaels provided a recap of the 2020-21 preliminary budget, which included highlights from the Pennsylvania Governor Wolf’s state budget address from earlier that day. As proposed, CSD will realize less than $250,000 of additional state aid. Michaels also provided a more in-depth review of referendum exceptions. The final budget will be adopted this June. The meeting closed with a brief overview and timeline of the food services management contract RFP process. The district’s contract with Chartwells expires June 30, 2020. The next Financial Affairs meeting is Tuesday, March 3, 2020.