[SchoolFinance] Undesignated Fund Balance

[Carla Franzose]

Andrea, does this article allow you to spend more than the bottom dollar of
your budget if needed?

Carla

On Thu, Apr 10, 2025 at 10:48 AM Andrea Disch <adisch at msad11.org> wrote:

> 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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>
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-- 
Carla Franzose
Business Secretary, RSU 74
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