Elizabeth Stelle, Director of Policy Analysis at Commonwealth Foundation, about school reserve funds, with Frank Andrews.

Newsmaker Interviews
Friday, June 1st
Elizabeth Stelle, Director of Policy Analysis at Commonwealth Foundation talks about school reserve funds and school districts hoarding cash, with Frank Andrews.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

On the line with us right now is Elizabeth Stella she is the director of policy analysis from the commonwealth foundation Elizabeth thanks for taken timeout to talk about us. I let my pleasure thanks thanks for having a fund to help people just recently won the commonwealth foundation is what you folks to. Sure our oh I remember I'm quitting and then pray where are equal but equal opportunity for their treatment then turn around it that's. And so we try I think act by picking pre market it as an intern and then it about all of it and hopefully a lot of that are and a make life better or copper put it in. Now you guys are kind of like a watchdog for a lot of a lot of south I'm looking at some of the issues that the commonwealth foundation deals with a Pennsylvania state budget spending limits school choice welfare criminal justice there's lots as well liquor store privatization so you are you are on top of all the big issues that we talk about here but this one grabbed my attention is your school district hoarding cash could you please explain to explain what the heck this reserve is. Carried her giggle kind of suggests a lot. I think meant a really interesting but not that I will probably familiar with but it. The really get access actually aired your local property tax then and we get to that in fact going on in terms of education I think it's. The pop from Romania. The depth and the baking units per rag paper that says that in. Can't stand an honoring ain't fun fun you know some protection against them during B pat but some money in their eyes are now reached eating at me eat. And Iran and where Orszag and outlook negative one Bahraini inside or at both the taxpayers aren't. And we getting out then all 500 photogenic but looking at how much they have an editor onion. And we are learning that their reserves I think are incredibly. Battery. A hundred and repeat we are in growth in 2000 and I teach and a couple of the checks are very infection dust because it. And I may have on the margins are under different than dollar figures. But they are in there I think I'm more than its tiny percent of their. And Amy and me I'm not iron jumped out and food what is going to start asking I think we're all well. I think he'd be restart it I don't look after him that should be going and they. Well you know the first response that we've we've we've got when I started talking about. This is how could they possibly raise taxes if they've got you know a 1000002000005. Million dollars in reserves who I mean is there a reason to have a reserve fund. How am I think in the center and happened to her protection against comparing beach. I'm but there are other parents undeterred and and you building project if it for building products needed are fun. And their pocket I think that they saved par but I don't think anybody without money for our. So would have derailed me a call for economic and look at the number turnaround district and and we got to remember than say hey. You do not you know and then keep it and gone up did in mind I've been there I'm Kenya meanwhile I and it. Explain an impact. On that and they need me to paints. There have been happy need it to me and but according hemorrhage or just so hard and it it really dig the costs and we know why that's not the pairings. Elizabeth I know I'm I'm by Indiana cellphone your breaking up a little bit are you driving or you you are you stop somewhere. I'm getting to write my. I am not gonna open it up I had in me. OK now I want to ask you this in our area which is you know lack wanna lose cern Wyoming weighing pike Susquehanna county Columbia county sure there're a lot of school districts that are in the negative. Does that instantly suggests long term tax hikes. Pakistan back tracked. You know and that's gonna happen right but at the other end of the spectrum on the debate you know back. Training. At. But are eating and eating into that situation there are a couple of in both the district in your. I'm why in your area relatively speaking at impact and screenwriter and nerds and Inkster about her own ads come to mind cash reserves that are 43 and then there's spending. I'm talking 57 with that eight million dollar ordered nasty words. Include while accept third in the aid intended dollars felt it you know it. You want and he went camping in the married Ellen I'm engaged in mount very large and their and you don't like it in the company can. Any dollar that situation and you know what screen and where where you're still are I'm under I'm dead on everything in the red. How we didn't really get ink on a call for change and being accountability. On local school board to their tax. Not worth I'm looking alphabetically in our area Abington high school district looks to me like there are negative 51000. Dollars which is a very small number but that's suggests that there's not much cushion in case of an emergency right. Sure absolutely and I had. Well while marijuana to get you can thank god it did not everything on that subject about how. Happened about and you get checked out very large reserves over the 20% stake here. Out there are and they wanted to Federer on the independence faster I'm glad they eight need to have Summers there aren't some cushion and she. And different ball out really now for a are what are funding formula I think they. Are we not do we need a Q&A dot. I'm making sure that the funding all of became. On our I mean primary and if I really aided in woman numbers. Now that's certainly need that it trapped not wanna be is that we re inherit facts. Now Elizabeth. I just got to ask you this because it's a real hot spot on Peter. Do you does he commonwealth foundation have any position I'm not property tax elimination or are at a house builds the 76 senate bill 76. I think I need to get there aren't that I and or competition and they say that no. It probably perhaps that is to our area in terms of a larger problem and that larger problem in our our pension liability it. We didn't conferences into a pensioner farm. Last summer early Tony Smart they can have a pension liability at third felony billion dollars. So that's really good writer behind our property act is then Tony cabinet pension problems and can keep he pressure are hired. Bold action none of that property tax sales tactic and tax. What supplements actually day you're bank to keep it goes game pressure on full project so it again. I'm just saying you know we go to the court. Are funny you rather then a Woolley Elisa assistant. Other problem people are experiencing. OK but say you know the question is the pension the pension issue is like don't act like climbing Mount Everest what's the solution to that. It stops on which we need to carry on I think it is quite yet that governor would mean he carried tension of army cantonment train that team. Eat right get out and give them seventeen that's a tremendous progress in key areas. I don't think it's impossible I could eat but not impossible. And then Egypt and war and I area where we have a man to finance such under the Pennsylvania. And yeah about I litigation like. They mean to get the that we can't miss on the op foreign aid areas and even possible. But are essential to making sure that we have and looking at where people can ill afford. In our homes and and they can attract and eighth and we can grow up population yet. Good enough Elizabeth thanks for taking time to time when this how do people get in touch for the commonwealth foundation. Well you can get a duet dot com what the nation that ordered. I'm not an agent dot org fashion reserve take you straight to our research on sounds cool is there I'm. And rob so I think sucking you cannot but I'm a bunch Karen handle is live eat the number four PA. All right thank you very much Elizabeth cell from the commonwealth foundation.