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Board hears finance briefing on draft bill that would cut allowable school cash reserves
Summary
District staff warned a draft state bill would limit school district cash reserves to 20% of the foundation guarantee and eliminate the exclusion for pre‑1997 funds, potentially forcing Platte County School District #1 to spend roughly $981,000 in pre‑1997 funds within a short window and reducing carryover capacity.
Platte County School District #1 trustees spent more than an hour on a finance briefing about a draft state bill that staff say would shrink districts’ allowable cash reserves and change how historical funds are counted.
A district presenter described the bill as a draft that would cap cash reserves at 20% of each district’s foundation guarantee beginning June 30, 2028, remove the current exclusion for pre‑1997 funds and prohibit transfers from the foundation fund for major capital renovations. "They are going to limit the cash reserves to 20% of each school district's foundation guarantee beginning…
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