Friday, April 08, 2005

"Rainy Day Funds" Should Be Limited

A new story in the Albany Democrat Herald (link), reports that school districts around the state have been saving a substantial portion of their budgets each year, apparently unbeknownst to some observers, in case of future budget declines. According to that article,
"The Oregon School Boards Association recommends a carryover, or ending fund balance, of about 5 percent to 8 percent. But only 21 of Oregon's 197 school districts hit that target. The rest carried over balances ranging from 9 percent to 275 percent at the end of last school year."


I think the school districts need to come clean with the legislators and the public. The schools should not be allowed to hold more than 2-8% of their funds for a Rainy Day Fund. Recent media coverage around the state is bringing this issue into the light of day, but school districts themselves need to prioritize openness throughout the funding process.

Friday, April 08, 2005

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