Districts, Corbett Spar Over ‘Rainy Day’ Reserve Funds

A few weeks ago, Gov. Tom Corbett told a Philadelphia talk radio host he had found a few extra billion dollars for Pennsylvania’s public schools.

No, he didn’t announce new state grants. Nor did he offer to give more money back to districts for charter school expenses or special education.

Instead, he said, school district themselves are sitting on a pile of money, a combined $3.2 billion in reserves — “savings accounts” that could be used to prevent tax increases.

 “I look at the reserves as, it’s a rainy day fund. This is a rainy day,” Corbett said May 16 on the Dom Giordano show. “But what do we hear out there? ‘Because of Gov. Corbett’s budget, we’re going to have to get rid of all-day kindergarten, we’re going to have to get rid of art and music.’ “
Click here to read the full article by Andrew McGill published in The Morning Call (June 11, 2012)

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