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School board tightens fund-balance range, raises procurement threshold and accepts early-learning grant
Summary
At its April 28 meeting the Madison Metropolitan School District board revised its fund-balance policy to set a 12%–18% range, amended procurement rules to use gender-neutral language and raised the purchase threshold to $60,000, and approved a three-year Roots and Wings grant to support 4K programs.
The Madison Metropolitan School District Board of Education on April 28 voted to revise its financial policies, including raising the maximum allowable fund balance and increasing the procurement threshold, and accepted a multi-year grant to support early learning.
The board amended district fund-balance policy 6,071 to set a minimum target of 12 percent and a new maximum of 18 percent of general fund expenditures. The board also approved changes to procurement policy 6,244 that replace gendered pronouns with "their" in the policy text and raised the review threshold for purchases and contracted…
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