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Penn Hills School District Exits Financial Recovery Status

Penn Hills School District Exits Financial Recovery Status
Penn Hills School District Exits Financial Recovery Status

We are thrilled to announce that the Penn Hills School District has officially exited Financial Recovery status. This monumental achievement was announced on May 23, 2024, by Pennsylvania’s Secretary of Education, Dr. Khalid Mumin, at Penn Hills Middle School.

Background and Progress:
In 2017, the district was placed on the state’s financial watch list, and by 2019, it received a moderate financial distress classification. Since then, under the dedicated leadership of our Board of Directors, Chief Recovery Officer Dr. Daniel Matsook, and our administrative team, we have worked diligently to overcome significant financial obstacles. 

Key accomplishments over the past five years include:

  • Increasing our capital reserve fund from $600,000 to $8 million.
  • Reversing a negative fund balance to a positive $19 million.
  • Improving our credit rating.
  • Reducing long-term debt and eliminating the need for Tax Anticipation Notes (TAN).
  • Enhancing investment strategies and ending the use of one-time funds for recurring expenses.
  • Developing a sustainable capital project list that balances safety, technology, and student needs.
  • Right-sizing district staffing levels.

Dr. Matsook remarked on the steadfast determination of the Board of Directors, noting their passion and dedication to the district, which has been instrumental in reaching this milestone.

Future Outlook:
Superintendent Dr. John Mozzocio, who began his term in January, emphasized the importance of transparency and continued financial responsibility as we build on the established foundation. He expressed gratitude to our staff, parents, and community for their unwavering support, stating, “We will make sure that we continue to move ahead in a financially responsible manner and look forward to turning the page to a new school year.”

Official Declarations:

  • Letter from the Pennsylvania Department of Education:The Department’s letter commends the district’s significant efforts and outlines the transition into a monitoring phase, during which the Chief Recovery Officer and the Department will oversee the Board of School Directors for the next five years to ensure continued financial stability. The letter underscores the necessity of ongoing collaboration and compliance with the Financial Recovery Plan’s objectives.
  • Declaration of Termination:The official declaration by Secretary of Education Dr. Khalid Mumin acknowledges the district’s compliance with all criteria for terminating the Financial Recovery status. It highlights the district's achievements and confirms the removal of the Moderate Financial Recovery Status as of May 23, 2024.

For more information about the district’s financial recovery and ongoing initiatives, please visit our Financial Recovery Page.

We are excited about this new chapter for the Penn Hills School District and remain committed to providing the best possible education and support for our students. Thank you for your continued support and dedication.

For any further inquiries, please contact our district spokesperson, Sarah McCluan, at 412-841-8221.

Thank you for being a part of our success and supporting our journey toward a brighter future for the Penn Hills School District.

 

  • LMS
  • PHES
  • PHHS
Penn Hills School District Exits Financial Recovery Status
First page of the PDF file: FinancialRecovery-1
First page of the PDF file: FinancialRecovery-2