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.
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and payits 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: September 19, 2019
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and payits 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. LEGAL REF.: 105 ILCS 5/10-22.33, 5/17-1, 5/17-2A, 5/20-5, and 5/20-8. CROSS REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) ADOPTED:November 18, 1997 REVISED:October 21, 2008; September 17, 2013; June 19, 2018; August 20, 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 CROSS REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: October 11, 2019
Fund Balances. The Director or designee shall maintain fund balances adequate to ensure the System’s ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Director or designee shall inform the Board whenever the System must draw upon its reserves or assess an additional fee to member districts. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) March 2012 4:45
Fund Balances. The following estimated balances will remain at the end of the current fiscal year and are not encumbered with or by a corresponding debt obligation, less estimated funds necessary for operating the district before receipt of the first state aid payment: Maintenance and Operations Fund Balance(s) $ 6,000,000 Interest & Sinking Fund Balance(s) $ 902,066 A school district may not increase the district’s maintenance and operations tax rate to create a surplus in maintenance and operations tax revenue for the purpose of paying the district’s debt service.
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: Assigned to joint training program $117,408
Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District's ability to maintain levels of service and payits 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 that is equal to one year of operating expenses.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. 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.