Bill > HB1115

This bill amends the Public School Code of 1949 to establish specific fund balance limits for cyber charter schools, beginning with the 2024-2025 school year. The legislation restricts cyber charter schools from accumulating an estimated ending unreserved, undesignated fund balance exceeding 8% of total budgeted expenditures, a combined assigned and committed fund balance exceeding 4% of total budgeted expenditures, and a total combined assigned, unreserved, undesignated, and committed fund balance exceeding 12% of total budgeted expenditures. The bill also provides definitions for key financial terms like "assigned fund balance" (money intended for a specific purpose as authorized by the school's governing body), "committed fund balance" (money intended for a specific purpose as authorized by a designated committee or individual), and "estimated ending unreserved, undesignated fund balance" (the portion of fund balance available for expenditure that is not legally segregated for a specific future use). These limits are designed to ensure that cyber charter schools maintain fiscally responsible financial practices and do not unnecessarily accumulate excessive funds, with the goal of promoting more efficient use of educational resources. The act will take effect 60 days after its passage.

Education

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1115