Agenda Item
Meeting Date: 8/23/2018 - 6:30 PM
Category: SCHOOL DIVISION WORK SESSION
Type: Info
Subject: Preliminary FY 2017/18 Ending Fund Balance Estimates (7:35 - 7:45)
ACPS Division Objective :
Objective 5
We will optimize resources.
Policy: DB - Annual Budget
Enclosure: Highly Preliminary Fund Balance Update
File Attachment:
Preliminary Fund Balance 8-16-18.pdf
Summary: Upon the Board request, staff has prepared highly preliminary estimates for the School Operating fund ending balance. These numbers are extremely, highly speculative in nature and therefore should not be used other than to provide an order of magnitude estimate of the final numbers which will be available in late November.
The Board of Supervisors has adopted a policy which restricts the School Operating Fund balances to no more than 2% of final adopted budgets. This equates to approximately a permitted fund balance of $3.6M.
Funding: These are highly preliminary estimates of available fund balance.
Recommendation: Receive for information and discussion.
Approvals:
Recommended By:
Signed By:
Jackson Zimmermann - School Finance Officer
Signed By:
Rosalyn Schmitt - Chief Operating Officer
Signed By:
Dr. Matt Haas - Superintendent