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Business
& Non-Instructional Operations |
3172-BP |
GENERAL FUND APPROPRIATION FOR
CONTINGENCIES RESERVE
It shall be
the policy of the Board of Education to establish and maintain a General Fund Appropriation
for Contingencies Reserve. The purpose of the Contingencies Reserve shall be to
provide a prudent reserve for unforeseen financial requirements such as, but
not limited to, deficits in state or federal funding, necessary unbudgeted
expenditures, or unanticipated rate increases for fixed costs. The board shall
establish a goal of maintaining the appropriation for contingencies reserve at
three percent (3%) of the General Fund but shall, in times of financial
necessity, budget a minimum of one and a half percent (1-1/2%) of the General
Fund budget for the contingencies reserve.
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Policy adopted: |
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