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Board streamlines fiscal-reserve policy, sets unassigned general fund reserve at 8%
Summary
The board reviewed a revised fiscal-planning policy that consolidates fund-balance language and establishes a minimum unassigned general-fund reserve equal to or greater than 8% of projected operating revenues; board members debated risk tolerance and self-insurance planning.
The Hillsborough County School Board reviewed revisions to its fiscal-planning policy to clarify fund-balance language and set a single unassigned general-fund reserve at 8 percent of projected operating revenues.
Jamie Lewis, a district finance staff member, told the board the prior text had duplicate language that produced an unintended 16 percent reserve reference and that the revised draft simplifies and…
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