Fund balance measures the net financial resources available to finance expenditures of future periods.

Fund Balance of the District may be committed for a specific source by formal action of the Board of Education. Amendments or modification to the committed fund balance must also be approved by formal action of the Board. Committed fund balance does not lapse at year-end.

The Board delegates authority to assign fund balance for a specific purpose to the Superintendent and/or Director of Finance.

For purposes of fund balance classification, expenditures are to be spent from restricted fund balance first, followed in order by committed fund balance, assigned fund balance and lastly, unassigned fund balance. The Superintendent and/or Director of Finance has the authority to deviate from this policy if it is in the best interest of the District.

Adopted 5/3/11