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§ 6-688. Limitations on certain unreserved fund balances

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: December 23, 2003

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 24 P.S. Education
Chapter 1. Public School Code of 1949 (Refs & Annos)
Article VI. School Finances (Refs & Annos)
Subarticle (e). Second, Third and Fourth Class School Districts (Refs & Annos)
Effective: December 23, 2003
24 P.S. § 6-688
§ 6-688. Limitations on certain unreserved fund balances
Currentness
(a) For the 2005-2006 school year and each school year thereafter, no school district shall approve an increase in real property taxes unless it has adopted a budget that includes an estimated ending unreserved, undesignated fund balance less than the percentages set forth as follows:
School District Total
Budgeted Expenditures
Estimated Ending
Unreserved Undesignated
Fund Balance as Percentage of
Total Budgeted Expenditures
Less Than or Equal to $11,999,999
12%
Between $12,000,000 and $12,999,999
11.5%
Between $13,000,000 and $13,999,999
11%
Between $14,000,000 and $14,999,999
10.5%
Between $15,000,000 and $15,999,999
10%
Between $16,000,000 and $16,999,999
9.5%
Between $17,000,000 and $17,999,999
9%
Between $18,000,000 and $18,999,999
8.5%
Greater Than or Equal to $19,000,000
8%
(b) By August 15, 2005, and August 15 of each year thereafter, each school district that approves an increase in real property taxes shall provide the Department of Education with information certifying compliance with this section. Such information shall be provided in a form and manner prescribed by the Department of Education and shall include information on the school district's estimated ending unreserved, undesignated fund balance expressed as a dollar amount and as a percentage of the school district's total budgeted expenditures for that school year.
(c) As used in this section, “estimated ending unreserved, undesignated fund balance” shall mean that portion of the fund balance which is appropriable for expenditure or not legally or otherwise segregated for a specific or tentative future use, projected for the close of the school year for which a school district's budget was adopted and held in the General Fund accounts of the school district.

Credits

1949, March 10, P.L. 30, No. 14, art. VI, § 688, added 2003, Dec. 23, P.L. 304, No. 48, § 8, imd. effective.
24 P.S. § 6-688, PA ST 24 P.S. § 6-688
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document