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Granite School District details $311 million in reserves, explains limits on use
Summary
Superintendent Horstley said the district held about $311 million in reserve funds as of June 30, 2024, and described how those funds are allocated and why they cannot be used for ongoing costs such as wage increases.
Superintendent Horstley said Granite School District had approximately $311,000,000 in reserve funds as of June 30, 2024, and outlined what the district holds those funds for and what they may not be used to pay for.
Horstley said the reserves are legally required in some cases and that maintaining them helps protect the district’s bond rating and long-term financial stability. "The district is legally required to maintain certain levels of reserve funds for certain purposes. Saving funds for future needs reflects very prudent financial planning and helps save taxpayers money in the long run," he said.
The superintendent provided a breakdown of…
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