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<p class="MsoNormal">Good afternoon,<o:p></o:p></p>
<p class="MsoNormal">The School Finance Team recommends that for RSUs, MSADs, and CSDs reserve funds stay in fund 1000.
<o:p></o:p></p>
<p class="MsoNormal">If a Municipal Unit, the town can hold the reserve funds and when it is voted to be used, the town transfers to school and school will book it in as revenue code 1201 to fund 1000.<o:p></o:p></p>
<p class="MsoNormal">This was guidance give to us by an Auditor who conducts many school audits.<o:p></o:p></p>
<p class="MsoNormal">Auditors do have different opinions sometimes so a confirmation with your Auditor may be a good idea.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:12.0pt">________________________________________ </span><o:p></o:p></p>
<p class="MsoNormal" style="vertical-align:baseline"><b><span style="font-size:12.0pt">Denise Towers<o:p></o:p></span></b></p>
<p class="MsoNormal" style="vertical-align:baseline"><span style="font-size:12.0pt">School Finance Regionalization & Compliance Coordinator<br>
Maine Department of Education</span> <br>
23 State House Station <br>
Augusta, Maine 04333-0023 <br>
<b><span style="font-size:12.0pt">Email</span></b><b>: </b><u><span style="color:#0070C0"><a href="mailto:Denise.towers@Maine.gov"><span style="color:#0563C1">Denise.towers@Maine.gov</span></a></span></u><span style="font-size:12.0pt"><br>
<b>Phone</b>: 207-624-6863 </span><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="vertical-align:baseline"><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif"><a href="http://www.maine.gov/doe" target="_blank"><span style="font-size:12.0pt;font-family:"Calibri",sans-serif;color:#0070C0">Maine DOE</span></a></span><span style="font-size:12.0pt">
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|</span> <a href="https://mainedoenews.net/" target="_blank"><span style="font-size:12.0pt;color:#0070C0">Maine DOE Newsroom</span></a> <br>
<span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif"><o:p></o:p></span></p>
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