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School Board President Defends Use Of So-Called “Rainy Day Fund”

February 8th, 2017 by WCBC Radio

As a result of opting to utilize the so-called “rainy day fund” on several occasions in recent years- the  Allegany County Board of Education has seen it’s reserve fund balance drop from a high of $12 million to its current $3.4 million. School Board President Laurie Marchini tells WCBC News that there were several reasons for dipping into the reserve fund- beginning with a six million dollar hit from the state- and followed by an unexpectedly high number of health insurance claims. Those, among other fiscal challenges, she says is what led o the board choosing to use reserve funds to help balance the budget…





 

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