What should the Wake County school system do with $32 million that's built up over the past year in its rainy day fund?
During Tuesday's school board meeting, staff reported that the undesignated fund balance had been replenished much higher than expected, leaving $32 million available in the undesignated fund balance. Staff said that cost-cutting during the year helped raise the amount above the $20 million they expected to have.
Some school board members want to return part of the fund balance to the county. But some board members and staff say the money should be retained because they need to make up for the recurring expenses covered by using fund balance earlier this year and in case the country goes over the federal funding cliff.