6211 - TYPES OF FUNDS

Textbook and Instructional Materials Fund

The Board of Education maintains a Textbook and Instructional Materials Fund. This is a separate District fund into which the Board must deposit four percent (4%) of all revenues received by the District for operating expenses.

This fund is used for textbooks, instructional software, materials, supplies and equipment. Any money in the fund that is not used in a fiscal year is brought forward to the next fiscal year.

The percentage of revenues on deposit, as well as the definition of what constitutes textbooks and instructional materials, is subject to applicable rules to be jointly adopted by the State Auditor and the Superintendent of Public Instruction.

The fund may be used for other purposes if both of the following steps occur during a fiscal year.

1. All of the following individuals must certify, in writing, that the District has sufficient textbooks, instructional software, materials, supplies and equipment to ensure a thorough and efficient education within the District:

   1. the Superintendent

   2. a person designated by vote of the business advisory council (in Districts where required)

   3. the president of the teacher’s union (or designee), if applicable

2. The entire Board must unanimously adopt a resolution stating that the District has sufficient textbooks and instructional software, materials, supplies and equipment to ensure a thorough and efficient education within the District.

Capital and Maintenance Fund

The Capital and Maintenance Fund consists of four percent (4%) of all revenues received that would otherwise have been deposited in the General Fund, except that money received from a permanent improvement levy may be used to meet this requirement. Money in this fund may only be used as provided by Ohio law.

Budget Reserve Fund

The Budget Reserve Fund consists of no less than five percent (5%) of the preceding fiscal year’s general fund revenue unless the District is in a fiscal watch or fiscal emergency or if the money is appropriated from the fund to cover revenue shortfalls and emergencies or if the District has not established its budget reserve fund as provided under Ohio law. Appropriations from this fund must be consistent with Ohio law.