|Posted:||January 11, 2019 01:00 PM|
|From:||Representative Anthony M. DeLuca|
|To:||All House members|
|Subject:||Unreserved Fund Balance Limits for Charter and Cyber Charter Schools|
|At a time when traditional districts are being forced to dig into their fund balances, charter and cyber charter schools should be required to use their available funds for programs and instruction of children, instead of stockpiling large fund balances.
After all, these unreserved balances are taxpayer funds. These dollars should remain with the taxpayers if they are not being used to educate our children. We must find ways for districts to save every single dollar so homeowners and businesses don't face even higher tax bills.
Regulating these fund balances is a step in the right direction.
The law will prohibit payments to charter or cyber charter schools unless those schools have adopted a budget that includes an estimated unreserved, undesignated fund balance less than 5% of their total budgeted expenditures.
Last session this was HB 351.
I invite you to join me as a cosponsor. Thank you.
Introduced as HB712