6235 - FUND BALANCE

The Board understands that the financial stability of the District is key to attaining its vision, mission, organizational values, and operational beliefs. Additionally, the Constitution of the State of Florida requires that school districts operate under a balanced budget.

There are many unforeseen conditions which can impact both increases and decreases in revenues and expenditures thereby impacting the financial stability of the District. To ensure the financial strength and stability of the District, the Board is committed to maintaining a fund balance of three and one-half percent (3 1/2%) of the District’s General Fund revenue to be reserved for contingencies.

Each year the Board’s adopted budget shall include a reserve for contingencies of not less than three percent (3%) of the District’s General Fund revenue. Should an increase or decrease in projected revenues or expenditures occur following the adoption of the budget the Board may by majority vote use its contingency reserve to balance its current revenue and expenditures. In the event the contingency reserve decreases to less than three percent (3%) of the District’s General Fund revenue, the Superintendent shall prepare for Board approval a financial plan and timeline to restore the reserve to the minimum amount set forth herein.

Revised 10/28/14
Revised 3/12/24

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