The Lower Merion School District -- accused of misleading the public about its finances -- says a lawsuit against it is baseless and offensive.
The Philadelphia Inquirer reports the class-action suit filed in Norristown accuses the 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.
