Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. CROSS REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) ADOPTED:December 17, 2013
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23, 2019
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 25 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. When the Superintendent anticipates that the fund balance level will not reach the 25% target he or she shall inform the Board immediately. The Superintendent, with Board approval, will design a course of action to attempt to reach the targeted level. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 5, 2019
Fund Balances. The Director or designee shall maintain fund balances adequate to ensure the Association's ability to maintain levels of service and payits obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Director or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The Association seeks to maintain a year-end fund balance to revenue ratio of no less than 25 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: October 11, 2019 Special Education Association of Peoria County
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain year-end fund balances no less than 50% percent of the annual revenues in the combined operating funds. CROSS REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 17,2018 Galesburg CUSD 205
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain year-end fund balances no less than the range of 10 percent of the annual expenditures in each fund. CROSS REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: July 18, 2018 CUSD 7 (Tolono)
Fund Balances. 28 9.9 Funding............................................................................28 9.10
Fund Balances. As prescribed by GASB Statement No. 54, governmental funds report fund balance in classifications based on the extent to which the Department is bound to honor constraints on the specific purposes for which amounts in the funds can be spent. As of June 30, 2012, fund balances for governmental funds consist of Assigned Fund Balance that includes amounts intended to be used for specific purposes that are neither restricted nor committed. In circumstances when an expenditure is made for a purpose for which amounts are available in multiple fund balance classifications, fund balance is generally depleted in the order of restricted, committed, assigned and unassigned. Fund balances for all the governmental funds as of June 30, 2012 were as follows: Designation Joint Training Fund Capital Projects Fund Assigned to joint training program $117,408 Assigned to certain capital projects $151,993 NOTE 11 – POSTEMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
Fund Balances. As prescribed by GASB Statement No. 54, governmental funds report fund balance in classifications based on the extent to which the Department is bound to honor constraints on the specific purposes for which amounts in the funds can be spent. As of June 30, 2013, fund balances for governmental funds consist of Assigned Fund Balance that includes amounts intended to be used for specific purposes that are neither restricted nor committed. Intent is expressed by an action of the Fire Board passing a resolution for the assignation or delegation of the authority to assign amounts to be used for specific purposes. Likewise, a similar action is required to reverse the assignation. In circumstances when an expenditure is made for a purpose for which amounts are available in multiple fund balance classifications, fund balance is generally depleted in the order of restricted, committed, assigned and unassigned. Fund balances for all the governmental funds as of June 30, 2013 were as follows: Designation Joint Training Fund Capital Projects Fund Assigned to joint training program $178,774 Assigned to certain capital projects $424,056 NOTE 11 – POSTEMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
Fund Balances. Buyer and Seller will use their commercially best efforts to either transfer Bank Accounts or open new bank accounts and transfer fund balances from the Bank Accounts where appropriate.
