3140.00 | Fund Accounting System (GASB Statement 54)

To enhance the usefulness of fund balance information, the District will provide clear fund balance classifications and use fund type definitions consistently.

The policy is designed to encourage consideration of unanticipated events that could adversely affect the financial condition of the District and jeopardize the continuation of necessary services. The District should maintain adequate fund balances and reserves in order to:

  1. Provide sufficient cash flow for daily needs;
  2. Secure and maintain investment grade bond ratings;
  3. Offset significant economic downturns or revenue shortfalls; and
  4. Provide funds for unforeseen expenditures related to emergencies.