Schools hoarding excess reserves

In the Aug. 2 front page article on District 59's possible borrowing, it stated that the district's policy is to keep 60 percent of its operating budget in reserve. Sixty percent is clearly excessive.

The National Association of school trustees recommends 25 percent, and anyone who has a financial background would agree that no governmental unit that is totally supported by taxes needs more than a 10 to 15 percent reserve.

Holding excess reserves is not unique to District 15. Districts 211 and 214 each have approximately 50 percent of their operating budgets in reserves. That equals approximately $100 million in excess reserves for each district.

No school district should be able to keep more than 20 percent of their operating budget in reserve. The excess should be returned to the taxpayers. No wonder the unions get almost everything they ask for by just pointing to these reserves. Until the taxpayers in those districts say ENOUGH, nothing will change.

Roland G. Ley

Arlington Heights