State legislators are legally necessary to keep cash reserves similar to 7.5 percent of Normal Fund spending but the typical Kansas school district obtained nearly three times that level C 22.3 percent C in reserve at the outset of the 2017 school year.? ?That will disparity should prompt sizeable discussion in the upcoming intention session. ?A state efficiency review recommended capping school cash stores at 15 percent and to do so would produce one-time savings near $255 million based on this new data, but legislators are actually unwilling to seriously consider the matter in prior years.
Kansas Department regarding Education (KSDE) data used to analyze the carryover reserve ratio excludes spending and reserves regarding current spending from national and KPERS pension funds and capital outlay and credit card debt payments.? ?Many school zones demonstrate strong cash management techniques by consistently operating using less than 10 percent held in book while many others choose to maintain more than 20 percent on hand. ??Every single district’s cash carryover ratio can be found you will come to KansasOpenGov.org and their individual finance balances can be found here.
School district reserve levels own long been higher than required for the state of hawaii budget; the average carryover ratio seemed to be 12.3 percent when it was first tracked for the 2006 classes year but it jumped substantially beginning with the 2010 school twelve months.?? Media reports say KSDE advised districts to build cash reserves in the event the Legislature was late making payments in the recession, but payments have consistently been on time for quite a few years now.