MNSD's $6M in Reserve Funds Ranks 175th in State

The Marple Newtown School District had $6 million in reserve funds last year, ranking 175 out of the 500 school districts in the state with the highest reserve funds. On June 30 of last year, the state had $3.2 billion total reserve funds in school districts, according to an article in the Pennsylvania Independent.

Districts with the most in reserve funds are Pittsburgh ($148 million), Downingtown ($50 million), Abington ($45 million), Lower Merion ($43 million), and Altoona ($37 million).

Gov. Tom Corbett's administration is encouraging districts with large reserve funds "to dip into those accounts to cover operating expenses in a year when state education funding is increasing, but not as much as districts would like," according to the Pennsylvania Independent.

"About 70 percent of the state's 500 districts are tapping into their reserve funds in their preliminary budgets, according to a survey by the Pennsylvania Association of School Business Officers, a professional association that helps provide products and services for school business management," states the Pennsylvania Independent.

Marple Newtown's general fund, as of June 30 of last year, included $1.6 million in committed funds and $5.1 million in unassigned funds, according to the Pennsylvania Department of Education report. Committed funds can be used only for specific purposes determined by a formal action by the Board of Directors, while unassigned funds are available for any purpose.

Marple Newtown School District taxpayers are currently facing a for the $68 million proposed 2012-13 budget.

Currently, there are no positions or programs slated to be cut in the budget next year but a couple of board members have previously shared their desire to bring the tax increase down to a 0 percent increase.

The district's Board of Directors is expected to finalize the proposed 2012-13 budget, including reserve balances, at its May 22 meeting.

Jennifer Kim contributed to this article.