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Finance committee approves referral to full board to revise OE‑5 fund‑balance language
Summary
The Beaufort County Board of Education's finance committee voted to send a proposed revision to board policy OE 5, "Financial Planning," to the full board for consideration, after staff recommended changing the policy's minimum unassigned fund balance from a percentage to a days‑of‑operations standard.
The Beaufort County Board of Education's finance committee voted to send a proposed revision to board policy OE 5, "Financial Planning," to the full board for consideration, after staff recommended changing the policy's minimum unassigned fund balance from a percentage to a days‑of‑operations standard.
CFO (Miss Crosby) told the committee the district's year‑to‑date finances show generally expected spending and recommended the policy language be changed so "we maintain a fund balance of no less than 60 days of next year's operations." She said that change aligns with the Government Finance Officers Association's best practices and would make the district's policy clearer for credit rating…
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