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Finance director warns 5% reserve policy leaves Wenatchee schools exposed to revenue volatility
Summary
The district's executive director of business and finance told the board that the current 5% minimum fund balance policy risks tight cash positions if state or federal funding is delayed; he presented scenarios showing Moody's and GFOA guidance exceed the current target and urged gradual reserve increases to avoid abrupt program cuts.
WENATCHEE, Wash. — The Wenatchee School District's finance director told the board on Oct. 14 that the district's current 5% minimum fund balance policy may not be sufficient to absorb revenue shocks and recommended a cautious, gradual increase in reserves rather than abrupt reallocations.
Executive Director of Business and Finance Sean Fitzgerald reviewed the purpose of a minimum fund balance — cash flow for operations, protecting bond ratings and covering unanticipated expenditures — and walked trustees through historical…
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