Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Auditor General audit flags large reserves, real‑estate purchases at cyber charter schools
Summary
Committee members pressed Auditor General Timothy DeFoor about audit findings that five cyber charter schools boosted fund balances hundreds of millions of dollars and made large real‑estate purchases under a 2002 funding formula the auditor calls outdated.
Representative Danny Friel and other members highlighted a recent Auditor General audit examining five Pennsylvania cyber charter schools that reported large increases in fund balances. In committee questioning, Representative Friel quoted the audit: "schools improved financial position by accruing fund balances that increased $365,000,000 or 144% from $2.54 up to over $6.20 or $619,000,000 as of June 2023," and described transfers of funds into capital projects for real…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
