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Board directs policy committee to review fund-balance minimum after finance committee recommendation
Summary
Board members asked administration and policy committee to examine raising the district fund-balance minimum from 10% to 15% after finance committee discussion; unassigned fund balance currently reported at about 15.8%.
Board members asked the policy committee to review the district's fund-balance policy after finance committee members recommended increasing the stated minimum from 10% to 15%. The district's Director of Business Services, Kelly Fosbinder, reported that the district's unassigned fund balance stood at roughly 15.8% at the time of the meeting.
Why it matters: Fund-balance targets affect credit ratings, the need for short-term borrowing,…
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