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35 <br /> 1 George Griffin continued the presentation. <br /> 2 <br /> 3 Slide #23 <br /> Policy Review <br /> 4 <br /> 5 <br /> 6 <br /> 7 Slide #24 <br /> Fund Balance Policy <br /> The School District's Local Current Expense Fund Balance Policy establishes guidelines and practices for <br /> managing fund balances within school districts,emphasizing the importance of maintaining funds for cash <br /> flow, using fund balances for non-recurring expenses,and addressing unforeseen emergencies collaboratively <br /> between the school districts and County Commissioners. <br /> The last revision to the policy was approved by the BOCC in June of 2019. It outlines the School Districts <br /> Local Current Expense Fund Balance Policy,which is a joint policy between the Orange County Board of <br /> County Commissioners, Chapel Hill-Carrboro City Schools Board of Education, and Orange County Schools <br /> Board of Education.The policy states that the School/County Collaboration Work Group shall review the <br /> policy every 18 months to determine if changes to the policy are necessary. <br /> The local operating fund balance and cash flow information was shared with the Orange County Joint School <br /> Districts Collaboration Work Group at its meeting on September 7,2023.Given the expected cash deficit in the <br /> month of November,the County has agreed to prepay a portion of the December county appropriation to cover <br /> the cash deficit in November. <br /> Chopel Hill-Carrboro city Schools I cnccs.org Prepared by Business and Financial Services THINK (AND ACT) <br /> g <br /> 9 George Griffin said that the revision to the policy was in 2018, not 2019. <br /> 10 Chair Bedford said that it was possible for the county to forward an advance to the school <br /> 11 system to help with the cash flow issues. <br /> 12 George Griffin said he appreciated the support from the county. <br />