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6022 - Minimum Fund Balance

BOARD POLICY No. 6022

MINIMUM FUND BALANCE

The Walla Walla School District Board of Directors recognizes the importance of maintaining a prudent fund balance in the general fund to ensure operational cash flow needs are met, to set aside resources for known obligations and to help protect against unforeseen circumstances. Accordingly, the district Board of Directors adopts this policy in regards to those portions of fund balance that are in spendable form but are not legally restricted as to their use from outside sources. Annually, the superintendent or designee will present a general fund budget that includes a commitment of at least 6-8 percent of the current year’s expenditures towards a minimum fund balance.

Cross References

Board Policy

6040

Expenditures in Excess of Budget

6020

System of Funds and Accounts

Legal References

RCW

28A.320.070

School district as self-insurer – Authority

28A.505

School Districts’ Budgets

28A.505.130

Budget – Requirements for balancing estimated expenditures

 

First Reading: February 16, 2016

Adopted by the Board: March 3, 2016

WALLA WALLA PUBLIC SCHOOLS • 364 South Park St. • Walla Walla, WA 99362 • Phone: 509-527-3000 • Fax: 509.529.7713

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