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Board leans toward 10% reserve target as finance staff propose raising minimum fund balance
Summary
Finance staff recommended updating policy language ("resources" not "revenues") and raising the minimum ending fund balance from 5% to 8%; board members signaled support for a higher threshold and an emerging consensus to set policy at 10% with notification at 8% ahead of formal action.
North Clackamas' finance leaders on Dec. 11 urged the board to update its ending fund balance policy to reflect contemporary best practices and to guard against future financial volatility.
"Our general fund ending fund balance serves as our liquid financial reserves," Executive Director of Finance Matthew McCarra told the board, explaining that staff calculate the metric as a percentage of total resources and that the district has maintained balances above 15% in recent years.…
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