Growing Per Pupil Fund Balances in Pennsylvania Cyber Charter Schools

This research update from Research for Action’s PACER project revisits and expands on prior analyses of fund balances across Pennsylvania’s public education sectors using the most recent 2023–24 data. The findings show that cyber charter schools continue to grow per-pupil fund balances at a much faster rate than school districts or brick-and-mortar charter schools. On average, cyber charter schools now hold over $10,000 per student in general fund reserves—more than double that of school districts—and the gap continues to widen. The brief also examines concerns raised in a recent state audit and legislative hearings regarding questionable spending patterns in the cyber charter school sector, as well as comparatively lower investments in teacher salaries and staffing levels. These findings reinforce the need for reforms to Pennsylvania’s cyber charter school funding formula and oversight practices to ensure public dollars are more equitably and efficiently targeted to support student learning.