HB1115

Pennsylvania HB1115 sets fund balance limits for cyber charter schools.

Pennsylvania HB1115 amends the Public School Code of 1949 to establish fund balance limits for cyber charter schools. Beginning with the 2024-2025 school year, cyber charter schools are prohibited from accumulating an estimated ending unreserved, undesignated fund balance exceeding 8% of total budgeted expenditures, a combined assigned fund balance and committed fund balance exceeding 4% of total budgeted expenditures, and a combined assigned, estimated ending unreserved, undesignated, and committed fund balance exceeding 12% of total budgeted expenditures. The act takes effect in 60 days.