Minimum Fund Balance
The district recognizes the importance of maintaining a prudent fund balance in the general fund to ensure operational cash flow needs are met, to set aside resources for known obligations and to help protect against unforeseen circumstances. Accordingly, the district adopts this policy in regards to those portions of fund balance that are in spendable form but are not legally restricted as to their use from outside sources.
Annually, the superintendent or designee will present a general fund budget that includes a commitment of at least five percent of the current year’s revenues towards a minimum fund balance.
|Cross Reference:||Board Policy 6020||System of Funds and Accounts|
|Board Policy 6040||Expenditures in Excess of Budget|
Adoption Date: 10.08.12
Clover Park School District