STATE COLLEGE — State College Area School Board of Directors at their meeting on Sept. 29 heard the district closed out the 2024-25 fiscal year with good news – a $10.1 million surplus.
District administrators are recommending transferring the surplus into capital reserves to fund future debt service obligations like building projects.
District Finance and Operations Officer Randy Brown said the surplus resulted in large part from real estate tax, real estate transfer tax, and investment income revenues exceeding historical highs.
The district also received more state and federal revenues than expected. In total, revenues were $8.96 million higher than budgeted.
Brown said money placed in capital reserves can be used for future building projects, helping reduce the amount that would be borrowed and financed for those projects. The surplus is about half of the cost of the Mount Nittany Elementary school renovation project.
The figures were presented to the board on Monday as a routine review of the previous year’s budget as part of the audit process. The board will consider approving the preliminary financials and the fund balance resolution at its meeting later this month.
In other business, the board accepted a $26,500 gift to pay for renovations to the high school wrestling room, which will be expanded into an adjoining storage room. Galen Dreibelbis pledged the gift through the SCASD Education Foundation.
Dreibelbis previously made a $500,000 gift for the Memorial Field renovation project.
The board also approved the purchase of a new video display scoreboard for the high school north building gymnasium. This is being funded by a gift from State High graduate Larry Beans that the board approved last month.
The new scoreboard represents a significant upgrade for athletics programs and provides the opportunity for digital advertising sponsorship revenue, like what is possible at Memorial Field, district administrators said.
In addition, the board:
- Approved several new courses for the 2026-27 school year and new CTC courses.
- Reviewed the district’s MAP testing results.
