A recent client chief school memorandum addresses a lawsuit filed by a taxpayer through her tax certiorari attorney challenging a school district's budgeting practices. The lawsuit questions the extent to which school districts may legally place money into reserve or retain funds in excess of the limitation found in RPTL §1318 which prohibits school districts from retaining in excess of 4% of the current year's operating budget in unassigned fund balance from one school year to the next. Guercio & Guercio clients may access the entire memorandum in the client portal.
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