An Act amending the act of March 10, 1949 (P.L.30, No.14), known as the Public School Code of 1949, in charter schools, providing for fund balance limits.

HB 1115 sets limits on the reserve funds that cyber charter schools in Pennsylvania can hold at the end of each school year. Starting with the 2024-2025 school year, these schools must keep general unspent reserves below 8% of total budgeted expenditures, combined funds set aside for specific purposes below 4%, and total reserves below 12%. The bill defines key terms like "funds set aside for specific purposes" to clarify how the limits apply. It directly affects cyber charter schools, which are publicly funded online schools operating under Pennsylvania's charter system.