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Adams 12 internal monitoring: reserves within board range, bond spending underway
Summary
Aaron Speed presented the internal monitoring report (policy 2.4), reporting a 4.9% unassigned fund balance (within the 4%–8% policy), bond authorizations of $830 million with $171.5 million issued to date, and ongoing quarterly financial oversight and an upcoming auditor RFP.
Aaron (introduced in the meeting as Aaron Speed) presented the district—s internal monitoring report under board policy 2.4 and reviewed the components the board asked to see quarterly: fund balance and reserves, liquidity and cash, accounts payable/receivable, bond spending and related controls.
He reported that the district—s unassigned general-fund reserve stands at about 4.9% of general-fund revenues, which is within the board—s 4%–8% policy band. Aaron noted the Government Finance Officers Association (GFOA) guidance…
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