Pottsgrove Surplus Cash Moved to Capital Fund
LOWER POTTSGROVE PA – The capital reserve fund of the Pottsgrove School District grew Tuesday night (March 9, 2021) by a million dollars, thanks to its Board of School Directors’ approval of the cash infusion. It resulted from a surplus that benefited the district at the end of the 2019-2020 academic year, because it spent less money than it collected in taxes and other revenue.
The entire surplus of $1.5 million, the district explained earlier, went unspent as Pottsgrove schools closed for the coronavirus pandemic during March 2020. It made pupil transportation on buses and other district vehicles – and other expenses as well – unnecessary, and the district pocketed the difference.
A third of the total, about $500,000, will be used to offset an anticipated deficit in next year’s school budget, district officials have said. The remaining million, transferred under the school board’s unanimous vote, will help pay for upcoming building renovation and other capital projects. They include a $2.8 million roof replacement at Lower Pottsgrove Elementary School on Buchert Road (at top).
Photo by The Post