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Manassas Park adopts written policy to track school year‑end reserves and CIP balances
Summary
Council adopted a financial policy to create a tracked school reserve (school stabilization) and guardrails for year‑end balances; the policy codifies a practice for preserving unspent school funds, allows interest to be retained by the city, and sets a 10% maximum guidance that prompted a council discussion.
The governing body voted on Dec. 2 to adopt a financial policy that formalizes how unspent school division year‑end balances and capital improvement funds are tracked and used. Staff said the policy converts a previously informal practice into a formal, tracked reserve line in the city’s general ledger (often called a school…
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