[SchoolFinance] Undesignated Fund Balance

[Andrea Disch]

It allows us to remain in compliance with the restriction on fund balance.
It also allows the district to expend from the contingency fund, with voter
approval, which we have never needed to do

Hope this helps.
a

On Thu, Apr 10, 2025 at 12:07 PM Carla Franzose <cfranzose at carrabec.org>
wrote:

> 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
>>> _______________________________________________
>>> SchoolFinance mailing list
>>> SchoolFinance at maillist.informe.org
>>> http://maillist.informe.org/mailman/listinfo/schoolfinance
>>
>> _______________________________________________
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>
>
>
> --
> Carla Franzose
> Business Secretary, RSU 74
> _______________________________________________
> SchoolFinance mailing list
> SchoolFinance at maillist.informe.org
> http://maillist.informe.org/mailman/listinfo/schoolfinance
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