Sentences with phrase «unrestricted reserves»

Taking $ 14 million from the fund balance would leave the district with just $ 4 million in unrestricted reserves, which Slack acknowledged would be «a little thin.»

Under law, unrestricted reserves, known as «rainy day funds,» are restricted to 4 percent of a district's budget.

In effect, Plainedge's repeated miscalculations allowed the district to pile up unrestricted reserves far beyond those allowed by state law in two of the three years covered, auditors said.

Most districts, in addition to their unrestricted reserves, also maintain accounts earmarked for specific purposes.

The state comptroller's office has criticized the Quogue school district for exceeding the 4 percent annual state limit that governs its unrestricted reserve fund, saying the system routinely surpassed that ceiling during a five - year span.

Not exact matches

The draft audit notes that the city's goal had been to maintain an unrestricted fund balance (sometimes referred to as a reserve fund) of 5 percent of its total general fund budget.

Global Council is our premiere patron circle, reserved to those who support the Studio Museum with a generous unrestricted gift of $ 5,000 and above annually.

That gives it unrestricted access to vast reserves of cash.