Common use of Fund Balances Clause in Contracts

Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s ability to maintain levels of service and pay its obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23, 2019

Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s 's ability to maintain levels of service and pay its payits obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23August 13, 20192019 Xxxxxx CUSD 2

Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s 's ability to maintain levels of service and pay its payits obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23January 16, 20192020 Xxxxxxx CUSD 139

Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s 's ability to maintain levels of service and pay its payits obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-15 to 20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 REF.:4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23August 20, 2019

Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s 's ability to maintain levels of service and pay its payits obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23August 19, 20192019 Xxxxxxxxx CUSD 7

Fund Balances. The Superintendent or designee shall maintain fund balances adequate to ensure the District’s ability to maintain levels of service and pay its payits obligations in a prompt manner in spite of unforeseen events or unexpected expenses. The Superintendent or designee shall inform the Board whenever it should discuss drawing upon its reserves or borrowing money. The School District seeks to maintain a year-end fund balance to revenue ratio of no less than 15-20 percent, as calculated under the Ill. State Board of Education’s School District Financial Profile. CROSS REF.: 4:10 (Fiscal and Business Management), 4:80 (Accounting and Audits) Adopted: September 23, 2019