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School board adopts revised annual‑budget and reserve‑fund policies after amendment
Summary
Trustees approved second‑reading changes to Board policy DB (annual budget) with an amendment referencing the reserve‑fund policy and approved second reading of revisions to DFAB (reserve funds) after debate about Moody’s methodology and fund‑balance language.
The Lexington‑Richland School District Five Board of Trustees approved revisions to board policy DB (annual budget) and DFAB (reserve funds) at the April 7 meeting, including a board amendment tying DB’s fund‑balance language to the DFAB policy.
What passed: On second reading the board adopted changes to policy DB with an amended fifth bullet that now reads, in effect, “maintenance of an operating fund balance per board policy DFAB (Reserve Funds).” The amendment to DB passed 5–1 and the underlying motion to adopt DB on second reading was approved 6–0. Trustees…
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