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Agency of Education presents reserve data and legal advisers clarify limits under Act 73
Summary
The Agency of Education presented audit‑linked data showing wide variability in district fund balances and recommended standardizing reporting; Legislative Council advised that Act 73 prevents using reserves to reduce the statewide tax rate, leaving other questions about surplus treatment unresolved.
The Agency of Education presented to the Ways & Means Committee on Jan. 29 the agency's collected data on district fund balances and the accounting classifications that affect comparability. "We do have information. But as you can see, it's a wide range," said Clay Martine, education finance director, showing an example district with $17.3 million in total fund balance but only $2.4 million unassigned and available for general purposes.
Martin…
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