Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance committee reviews fiscal year-end reserve plan, affirms purchasing policy approach; minutes approved 3-0
Summary
Committee discussed the draft fiscal year-end reserve plan focused on stability, a capital reserve priority and maintaining a 4% unassigned fund balance; members signaled support for the district's purchasing policy and approved the meeting minutes 3-0.
At its May 16 meeting, the Niskayuna Central School District Finance Committee reviewed the district's draft fiscal year-end reserve fund plan and discussed the district purchasing policy required for annual reaffirmation.
Staff said the draft reserve plan follows an "order of operations" that first maintains assigned fund balances set during budget development, then targets an unassigned fund balance at the 4% level allowed by state law, and sets aside funds for encumbrances and employee benefit accrued liabilities. "Maintaining funding for accrued liabilities positions us to meet future payouts," the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
