Mountain View Whisman School District

Agenda Item for Board Meeting of 1/4/2018

Agenda Category:  REVIEW AND ACTION

Agenda Item Title:  Resolution 1664.1/18, Authorizing the Establishment of Unrestricted General Fund Reserves (5 minutes)

Estimated Time: 

Person Responsible:  Dr. Robert Clark, Associate Superintendent/Chief Business Officer

Background: 

The State’s Legislative Analyst Office, the Government Finance Officers Association and School Services of California recommend to maintain an unrestricted general fund reserve level equal to two months of district-wide expenditures, or approximately 17%.

The Strategic Plan 2021 Goal 5: Resource Stewardship, contains  the Desired Outcome: The District will maintain a balanced general fund.  A balanced general fund shall be defined as the unrestricted general fund reserve level in the third year of any Board-enacted budget adoption or interim budget report falls within the range of 17%-20%, and may include deficit spending in any or all of the three years included in the multi-year projection.