- Associated Press - Friday, February 5, 2016

NORRISTOWN, Pa. (AP) - A wealthy eastern Pennsylvania school district accused of misleading the public about its finances says a lawsuit against it is baseless and offensive.

The Philadelphia Inquirer reports (https://bit.ly/1Swz88k ) the class-action suit filed in Norristown accuses the Lower Merion School District of misappropriating funds and says the district’s $55 million surplus is “ill-begotten.”

Attorney Arthur Wolk seeks a five-year-moratorium on tax hikes. He says the district has been overestimating expenses and underestimating revenues for seven years and should refund that surplus to residents.

A district spokesman says it carries about a $56 million fund balance and that more than $45 million of that is supposed to pay for pensions, retirement benefits, and capital projects.

The district in a statement says Wolk’s lawsuit also saps its vital resources.

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Information from: The Philadelphia Inquirer, https://www.inquirer.com

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