The raiding of contingency funds would further undermine trust in the legislature while promotiong unsound fiscal practices in the schools - all brought to you by a group that understands unsound fiscal policy.
This from the Courier-Journal:
House could ask schools to spend their reserve funds
Not every district would be affected
Cutting funding that local school districts receive from the state and forcing them to spend money in their reserve funds is still an option to help balance the state budget for the next two years, House Speaker Greg Stumbo said Tuesday.And from H-L:
School districts have a total of about $800million in their reserve funds, although Stumbo said not every district's fund would be tapped.
“There's a significant amount of money there that could be (used) to balance the budget,” the Prestonsburg Democrat said. “I'm not saying we are going to do it, but it could be used to supplement the (school funding formula) in this one-time occurrence.” ...
...Brad Hughes, spokesman for the Kentucky School Boards Association, predicted that any attempt to tap those reserve funds would draw strong opposition from school officials.
Even as lawmakers potentially eye the "rainy day" money, districts have been urged by the state Department of Education to build up contingency funds, Hughes said.
"This would be nothing less than one element of state government telling districts 'don't spend money,' and another part of state government saying, 'and now we're going to take it,'" he said....
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