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School board reviews broad changes to finance policies including grant language, investment caps and reserve rules
Summary
At an April 2025 workshop the Clay County School Board reviewed proposed revisions to the 6,000-series finance policies, discussing federal-grant restrictions, investment percentage caps, internal-fund handling, self-insurance reserves and superintendent authority on construction change orders.
The Clay County School Board reviewed a set of proposed changes to its 6,000-series finance policies at an April 2025 workshop, examining language on federal grant use, investment portfolio composition, internal accounts and reserves for the district’s self-insurance program.
Board members discussed restoring language that barred federal funds from being used for certain activities, keeping the line that “no federal funds received by the district shall be used to” for enumerated purposes. Board members and staff said much of the removed text duplicates state law or other district policies, but several trustees asked that prohibitory language be retained to make the district’s position explicit.
The board questioned policy language that sets percentage limits for how much of district funds may be placed in investments (members referenced a 50% ceiling and a 20% FDIC-insured-deposit reference). Staff explained the percentages are intended as operational guardrails so the district…
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