PITTSBURGH (Patch.com) – Pennsylvania’s 500 school districts continue to hoard large reserve funds and the Pittsburgh Public Schools has the state’s largest one.
The city school district had $187 million in reserve during 2016-17, according to a study by the Harrisburg conservative Commonwealth Foundation. That includes committed funds formally designated by the district for a specific purpose, assigned funds intended for a specific purpose by the school board or its authorized designate and unassigned fund balances available for any purpose.
The Commonwealth Foundation examined the total of all available reserves, and Pittsburgh’s $187 million represents 28.8 percent of total district spending in 2016-17. State Auditor General Eugene DePasquale has said school districts should not keep fund balances exceeding 20 percent of their total expenditures.