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Financial Oversight and Transparency

Section 5-4

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  • Generally. This Board rule sets forth the requirements for financial reporting and forecasting.
  • Purpose. The Board recognizes the importance of forecasting revenues, other resources, and expenditures in order to understand the level of funding available for District operations. As trustees of the community, the Board believes that long-term financial planning is a key fiduciary duty and important to the process of being fiscally responsible stewards of public monies.
  • Reporting and Forecasting.
    • Current Fiscal Year: On a quarterly basis in a fiscal year, the CEO shall submit to the Board a Current Fiscal Year Revenues and Expenditures Report, which shall include current fiscal year revenues and expenditures by fund, the appropriation for each fund for the current fiscal year, and a forecast of revenues and expenditures by fund for the remainder of the fiscal year.
    • Budget Forecast: No later than the Board approval of the budget each year, the CEO shall publish and submit to the Board a Five-Year Budget Forecast Report, which shall include a five (5) year forecast of General Fund revenues and expenditures, including appropriation for the current fiscal year and any additional information as requested by the Board.
  • Transparency and Monitoring.
    • Reports pursuant to this Rule shall be filed with the Board on its public agenda at the first regular board meeting following the date of submission to the Board.
    • The Board Secretary shall make available on the Board’s website all reports filed and received by the Board pursuant to this Rule.
Cross References Board Rule 5-4 was rescinded and new Board Rule 5-4 with Respect to Financial Oversight and Transparency was adopted at the April 26, 2023 Board Meeting [Board Report 23-0426-RU1].
Public Comment Pursuant to Board Rule 2-6 this Rule [5-4] was subject to Public Comment from 3/17/23-4/17/23 and adopted at the April 26, 2023 Board Meeting [Board Report 23-0426-RU1].

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