Thursday, May 17, 2012

PA State Rep. Mike Vereb Outraged At Schools' $3.2B Reserve Funds

From a press release issued today by State Rep. Mike Vereb, R-150th Dist., on the news that Pennsylvania's 500 school districts are holding on to $3.2 billion in "reserves" at a time when many districts are raising property taxes, laying off staff and cutting programs:
"As we face another tight budget year, I am furious to find that many of the state’s school districts that are crying poor and blaming the state for their fiscal problems are sitting on surpluses, including one that totals $148 million. Simply put, hard-working taxpayers deserve an explanation of why these reserve funds haven’t been used to help ease the rising costs of education, especially at a time when some communities’ school property taxes have increased."
Gov. Tom Corbett has also called on school boards to dip into reserves to help balance their 2012-13 budgets.

From The Associated Press: "The school districts are making a concerted effort not to go into those reserves," Corbett said, adding that reserves are a rainy day fund that should be used at times like this. 

Read the full release from Rep. Vereb at the link below:

PA State Rep. Mike Vereb - Vereb Outraged to Hear Pennsylvania’s School Districts Boast Reserve Funds Totaling More Than $3.2 Billion

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