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School committee begins review of draft fiscal‑reserve policy to limit routine use of E & D funds
Summary
Committee members discussed a pared‑down draft fiscal‑reserve policy (DIB) that would discourage regular use of Excess & Deficiency (E & D) as operating revenue and recommend maintaining 3–4% of operating budget (statutory cap 5%); legal review and a joint subcommittee/workshop were proposed.
Member Randy Rush, who led the policy subcommittee, presented a pared‑down draft fiscal‑reserve policy intended to break a cycle of using certified Excess & Deficiency (E & D) as recurring revenue. The draft describes three reserve types (operating reserves, capital stabilization, and OPEB) and states that while statute limits the E & D balance to 5% of the general operating…
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