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Finance staff proposes raising board fund‑balance target from 16% to 20%
Summary
Finance staff revisited the district’s fund‑balance policy (DIG), explained the policy’s history and GFOA guidance, and recommended the board consider increasing the minimum undesignated fund balance from 16% to 20% to strengthen fiscal posture for future borrowing and bond ratings.
Finance staff presented a proposal to consider raising the district’s minimum undesignated fund‑balance target, explaining the policy’s origins, the Government Finance Officers Association (GFOA) guidance the policy follows, and the possible effects on bond‑rating discussions.
Amy, the staff presenter, summarized the policy history and rationale. She said the district originally adopted a fund balance policy in February 2009 after the 2007–2008 budget shortfalls, and that the policy reflected GFOA best…
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