The district recognizes the importance of maintaining a prudent fund balance in the General Fund to ensure operational cash flow needs are met, to set aside resources for known obligations, and to help protect against unforeseen circumstances. Accordingly, the district adopts this policy in regards to those portions of fund balance that are in spendable form but are not legally restricted as to their use from outside sources.
Annually, the superintendent or designee will present a general fund budget that includes an unassigned fund balance (890) above 3% of expenditures attributable to basic education, special education, CTE, skills centers, support services, and transportation.
After the conclusion of the fiscal year in question, the superintendent or designee, in the annual fiscal year report, will notify the board if the unassigned fund balance (890) fell below 3% of the actual expenditures described above at the date of measurement, which is when the fiscal year in question is closed and reported to the State. Such notification will also include a detailed plan as to how and when the fund balance will be restored.
School Districts' Budgets - RCW 28A.505
Highline School District 401
Adopted by the Board: February 2011
Revised by the Board: 8.12, 2.20