1. The District will create a designated cash flow reserve within the District’s General Fund with a balance of not less than 5% of the District’s total General Fund revenues.  The reserve will be added to on an annual basis, if necessary, to maintain the 5% balance.  The balance will be designated by the Board and will not be available to the District for purposes other than cash flow.
  2. The District will solicit from the School Budget Review Committee additional allowable growth where it may be available for items such as special education deficit, increasing enrollment, talented & gifted, and any other lawful purpose.
  3. District administration will report to the Board monthly as to revenues, expenditures and percentage of the budget committed for the fiscal year in question.  The report will provide comparison to the same month in prior fiscal years.  Deviations in revenues and expenditures will be explained, and estimated budget revenues and expenditures for the entire year shall be provided.  Actual month end and estimated year end fund balance will also be provided.
  4. Budget amendments will be authorized at the point in time when expenditures in the fund in question are known to exceed the previously authorized expenditure and not just held for the last month of the fiscal year.  Amendments should identify the source of funding for the amended expenditure.
  5. The District will prepare a realistic General Fund budget using conservative assumptions and the best known information at the time of adoption.
  6. A 5‐year General Fund budget may be prepared and authorized annually including conservative assumptions but including key known or expected assumptions as it relates to expenditures (i.e., future staffing increases or reductions, annual raises, realistic health care costs, etc.), and including the fund balance estimate for the period in question.  Assumptions regarding property valuations should be based on historic actual results.  The District may adjust the property valuation assumption for known changes in the property tax base (i.e., new construction in progress).  Assumptions regarding sales tax income may include an assumption of growth not to exceed 50% of the actual growth rate in tax collection over the prior 5 year period.

Approved: April 13, 2009

Reviewed: June 12, 2017

Revised: April 23, 2012