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F•'at'�..•r <br />J. 5 <br />FINANCE DEPARTMENT <br />._ <br />�WM <br />as <br />To County. commissioners <br />From: . Fjnanca Director <br />Subject: Recommended Policy on Fund 3� <br />Date: February , <br />1 A.H� M <br />tv or <br />•FL �� <br />a <br />A <br />• *��7i catsH�� <br />ORANGE COUNT' <br />rof School Systems. <br />GORDON S. BAKM <br />nutEcroR <br />-1 . <br />During <br />the 1955--86 budget process, it was decided that a policy should be <br />of fund balan but <br />developed regarding the appropriate amount ce available would <br />unappropriated that each school system should maintain. This policy <br />be agreed upon by the County Commissioners and the Boards of Fducatian. <br />This recommended policy regarding the fund balance applies to the local current available but <br />expense fund and addresses the =='t�m�m amount of fundgbal anceof each fiscal <br />unappropriated that each system should have at the beginning <br />year. <br />The• school systems should maintain only the fund balance necessary th arya appropriations <br />cash flcm.aeeds and to make relatively minor adjustments their .PF oP <br />during the pear. . <br />of <br />The Local. Go'v'ernment Commission monitors the fund balsa They haveGestablished a <br />all tax levying units of government in Horth Catalina. <br />policy that such -units of• government nmamauhould main <br />t0 it least fBX of the totil <br />Fund fund- •balance available ear. The expenditures on 'which this <br />expeudd,tures of the General Fund for the nditures for the school systems' local <br />B�,is- computed includes the County Is capital outlay. Thus, in meeti=ng the Local <br />current expense as wallas for their P the County's fund balance avail— <br />Government Commission's minimum standard of 8x, <br />able for the General Fund includes a substantial enuntochat ission, does enot oh��n <br />ditures for the school systems- conclude <br />such a minimum standard for the school systems themselves. �Cecfund balance <br />from this that they rely on the counties to.ma3ntain as adeq <br />level-for the school systems. <br />Schools have <br />The superintendent and the finance director for orange County ro riated <br />expressed their desire to se fund tofanlevelao£e$120,Q� Ze This <br />in would <br />fa the local Curren <br />equal approximacel 2.7x1))of the budgeted a pendi orange in isSchoolsorecej -ve8 <br />as originally adoptei3't their Based <br />to on the <br />the;.major- portion•of their localcurrent the raveUUM <br />from the County <br />standard irt <br />a-W,equal amount each month, and g <br />- gaugepead2.•7%� fund. balance- level: 'should.be adequate. <br />