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)
Person Responsible: Dr. Robert Clark, Associate Superintendent/Chief Business Officer
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.
That the Board of Trustees adopt Resolution 1664.1/18 Authorizing the Establishment of Unrestricted General Fund Reserves.