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43 <br /> Fund Balance <br /> • Joint policy between the County and the School Districts <br /> — Last amended in 2018 to increase Orange County Schools undesignated fund balance target from <br /> 3% to 5.5% <br /> — Each District has targeted undesignated fund balance target of 5.5% of budgeted expenditures for <br /> "cash flow purposes only" <br /> — Undesignated fund balance may exceed targeted amount for "unseen events or opportunities" and <br /> other non-recurring purposes <br /> — Extraordinary emergency needs may exhaust fund balance <br /> • School Districts will take appropriate action to address the problem <br /> • County will reimburse the Districts for the necessary expenditures to address emergencies <br /> i <br /> ORANGE COUNTY <br /> 26 NORTH ( ARC)LII'14A <br />