The Catasauqua Area School District fund balance will increase in 2015.

District Superintendent Robert Spengler at the Nov. 10 school board meeting, informed board members the fund balance has jumped to $992,485.

The district's fund balance acts as a financial safety net, providing money that may be needed for emergency purchases or projects.

"We're slowly getting to where we need to be," he said. "We are slowly increasing the fund balance.

Last year's fund balance stood at $349,000.

The board should aim for a fund balance of $2 million, Spengler said.

Board Vice President Carol Cunningham spoke favorably of the current figure.

"We haven't had that since I've been on the board," she said.

During the meeting, Spengler also announced the administration has begun working on the 2015-16 budget.

"We're in the middle of budget prep," he said. "We have a whole lot of stuff going on."

Spengler reminded the board it's difficult to accurately predict budget figures due to the governor's proposed budget differing from the budget passed by the legislature.

According to Spengler, district Business Administrator Lois Reed has been instrumental in assisting with financial matters.

"Lois has really done a tremendous job," he said.

The board typically begins discussing and reviewing the budget in late spring.

The budget must be passed and submitted to the state by June 30.