6022 Minimum Fund Balance

It is the Board of Directors intent to maintain a reasonable ending fund balance. This will provide greater financial flexibility in times of austerity, reduced likelihood of short-term cash-flow crises, and assist in acquiring a higher bond rating, thereby decreasing borrowing costs. Maintaining an appropriate ending fund balance shall be the fiscal responsibility of the superintendent and Board of Directors.

 

Franklin Pierce Schools will maintain a General Fund ending balance of no less than five percent (5%) of the previous year’s expenditures. In the event that the ending fund balance is estimated to be less than five percent (5%), the superintendent will notify the Board of Directors.

 

Adoption Date: 8/16/11

Franklin Pierce Schools

Revised:

Classification: Optional