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39 <br /> Moving forward,we are actively urging the Board of County Commissioners(BOCC)to <br /> conduct a comprehensive review of the minimum fund balance target within the BOCC's <br /> School Districts Local Current Expense Fund Balance Policy(Policy 3.1)to ensure its <br /> a lig n ment with the ever-evolving financial landscape,As you are aware,this policy <br /> outlines the fundamental,principles governing fund balance management across both <br /> school districts (CHCCS and Orange County Schools)and underwent its most recent <br /> review and approval by the BOCC in June 2018_ <br /> Currently,the policy stipulates a minimum target of 5.5%of budgeted expenditures for <br /> unassigned fund balance. However, recent cash flow analyses have revealed that this <br /> target falls shoat in adequately covering operational cash flow during specific periods. <br /> We have determined that a minimum target of 5%of budgeted expenditures aligns <br /> more closely with the operational realities of our District.We believe in the value of <br /> conducting regular assessments and considering potential revisions to ensure that the <br /> policy remains in harmony with our current financial needs and challenges. <br /> In closing,we would like to express our gratitude for your invaluable support and <br /> assistance with the ongoing cash flow requirements of the District.We eagerly <br /> anticipate the BOCC's continued partnership and commitment to serge as the school <br /> district's safety net,in order to safeguard our financial stability and,prosperity.Together, <br /> we remain committed to providing the best possible learning environment for our <br /> students, and investing in our staff,while maintaining equitable and transparent <br /> stewardship of public resources_ <br /> Thank you for your continued prioritization of these important issues. <br /> Sincerely, <br /> The Chapel Hill-Carrboro City Schools Board of Education <br /> • Rani D. Dasi, M.B.A, Chair <br /> • George 1N_Griffin, Ph-D., Vice Chair <br /> • Riza Jenkins, J-D., M.B.A_ <br /> • J'illian J_La Sema, Ed-D- <br /> • Ashton W. Powell,Ph.0- <br /> • Michael H. Sharp.. M_Ed_ <br /> • Deon L. Temne <br /> 1 <br /> 2 <br />