[SchoolFinance] Undesignated Fund Balance

[Andrea Disch]

During last year's Annual Budget Meeting and in years prior,  the
following Article was voted and approved by residents.
The Article's purpose is to keep the district in compliance with the
maximum annual fund balance, as allowed by statute.
For FY 2026, the article will be amended to reflect the maximum fund
balance allowed.


*ARTICLE 18 ESTABLISHES AND AUTHORIZES CONTINGENCY FUND TRANSFERS*



*ARTICLE 18:*         Shall the District authorize the School Board to
establish a non-lapsing contingency fund for periods of financial emergency
pursuant to section 1482-B(3) of Title 20-A, and to transfer the District’s
unallocated balances in excess of 9% of the prior fiscal year’s budget, as
determined by audit, to that fund; and shall the District delegate
authority to the School Board to expend sums in the contingency fund when
the School Board determines by public vote that an emergency need exists,
and to transfer sums in the contingency fund to the District’s general fund
for use in school operating budgets approved by District voters?



On Tue, Apr 8, 2025 at 10:44 AM Carla Franzose <cfranzose at carrabec.org>
wrote:

> Just wondering if you all could share what % of the previous year's budget
> is your unallocated fund balance.  RSU 74's is currently at 11.5%
>
>
> --
> Carla Franzose
> Business Secretary, RSU 74
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