What’s $30 Million Among Friends?
April 2, 2014 — pwceducationreformAt last night’s BOCS meeting, Supervisor Pete Candland mentioned some savings PWCS had carried forward. The savings he noted ranged from $8 million in the 2010 school year to nearly $31 million in the 2014 school year. Supervisor Candland said he wouldn’t stake his life on the numbers, but that’s what it looked like to him.
He’s right.
In January of 2010 PWCS reported “savings” of $8,249,361 in their 2nd quarter budget update. $8 million of that was carried forward to the 2011 school year.
This January PWCS reported “savings” of $30,826,526 in their 2nd quarter budget update. $27.8 million of that was carried forward to the Construction Fund for capital improvements and $1.1 million was carried forward to pay for technology improvements.
These savings aren’t the entirety of what is carried forward by PWCS each year. These savings are just the school division’s projections in January of what things will look like at the end of the school year in June. The actual savings that is carried forward at the end of the year is usually greater.
What is carry forward? By statute, because they’re funded by taxes received from citizens, school divisions are not allowed to have any money left over at the end of the year. That means that any money that is left over at the end of the year has to be allocated, or carried forward, to the next year or subsequent years. It means that throughout the year the school division
