Financial Affairs Committee Presentation February 2021
With co-chair Dan Shultz presiding, Financial Affairs convened in a Zoom seminar room on Tuesday, Feb. 4. The agenda featured a review of the dramatically increasing costs associated with students at charter schools, in particular cyber charter schools. The impact on the current budget, along with the impact on the 2021-2022 budget was discussed. Costs are $2M higher than were budgeted for the 2020-2021 school year.
Ms. Edling presented updates on the current transportation food service contracts. The state will allow a one-year extension without going through the formal bidding process due to COVID-19, so a one-year extension is recommended and will be brought back to a future meeting for review and approval. Ms. Edling also reviewed the status of the 2020-2021 budget and outlook for the end of the year. Mr. Linderman then reviewed the proposed 2021-2022 budget process, providing a detailed calendar with key Pennsylvania Department of Education (PDE) and CSD deadlines. He also highlighted key terms “Act 1 Index” and “Aid Ratios,” which are essential to this process. He reported the Act 1 Index was published at 3 percent for fiscal year 2021-22. He also reviewed the need to increase the budget for charter school students because of the increase (almost 100%) in total students attending charter schools. A lengthy conversation ensued regarding the charter school costs and number of students. Ms. Edling and Mr. Linderman also reviewed some Forecast5 benchmarking data for Cheltenham.
The next Financial Affairs Committee meeting is Tuesday, March 2.