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There are two major types of fund balances, nonspendable and spendable. Nonspendable fund balances are balances that cannot be spent because they are not expected to be converted to cash or they are legally or contractually required to remain intact. Examples of this classification are prepaid items and inventories, and principal (corpus) of an endowment fund. The District has

inventories totaling $4,800,352 and prepaid items totaling $143,865 that are considered nonspendable.

Spendable fund balances are classified based on a hierarchy of spending constraints. The District has classified the spendable fund balances as Restricted, Committed, Assigned, and Unassigned and considers each to have been spent when expenditures are incurred. When both restricted and unrestricted resources are available for use, it is the District’s policy to use restricted resources first, then unrestricted resources as they are needed. When committed, assigned, and unassigned resources are available for use in governmental fund financial statements, it is the District’s policy to use committed resources first, followed by assigned resources, and then unassigned resources as they are needed.

Restricted: The portion of fund balance on which constraints have been placed by creditors, grantors, contributors, laws or regulations or other governments, constitutional provisions, or enabling legislation. Restricted fund balance places the most binding level of constraints on the use of fund balance. The District classifies most of its fund balances other than General Fund as restricted, as well as, unspent State categorical and earmarked education funding that are legally or otherwise restricted. The District’s restricted fund balance total is $222,423,936 and represents $6,966,132 in State Categorical programs primarily for Instructional Materials,

$11,590,042 in Food Service, $14,163,382 in Debt Service, and $189,704,380 in Capital Projects.

Committed: The portion of fund balance that can only be used for specific purposes pursuant to constraints imposed by formal action of the highest level of decision-making authority (i.e., resolution that is approved by a majority vote of the Board at a public meeting).

These amounts cannot be used for any other purpose unless the Board removes or changes the specified use by taking the same action it employed to previously commit the amounts. The District does not report any committed fund balance.

Assigned: The portion of fund balance that is intended to be used for specific purposes, but is neither restricted nor committed. Assigned amounts include those that have been set aside for a specific purpose by an authorized government body or official, but the constraint imposed does not satisfy the criteria to be classified as restricted or committed. At year end, the assigned fund balance is $19,504,897 for the subsequent year’s appropriated budget and $34,655,992 for State and local programs.

Unassigned: The portion of fund balance that is the residual classification for the General Fund. This balance represents amounts that have not been assigned to other funds and that have not been restricted, committed or assigned for specific purposes. The Board has not adopted a stabilization arrangement or a minimum fund balance policy. Instead, the Board has adopted Policy 6220 which states that to ensure the financial strength, maintain a favorable bond rating, and the stability of the District, the adopted annual operating budget shall include a reasonable unassigned fund balance to cover unforeseen events (e.g. revenue shortfalls, student

enrollment under projections, etc.). At the end of the fiscal year, the unassigned General Fund balance was $32,921,820, or 5.28 percent, of General Fund total expenditures.

The following table represents fund balances at June 30, 2021

Major Funds


Description General Funds Debt Service Capital Projects Other Total Other Funds Other Funds Governmental Governmental

Funds Funds


Fund Balances: Nonspendable:


General Fund

$ 3,915,807 $ - $

- $ -

$ 3,915,807

Special Revenues - Food Service - - - 884,545 884,545 Prepaid Items:

Categorical Programs

6,966,132 - - -


Special Revenues -Food Service

- - - 11,590,042


Debt Service

- 13,933,628 - 229,754


Capital Projects

- - 157,051,976 32,652,404


General Fund 143,865 - - - 143,865 Restricted:


School Operations

State and Local Programs


- - -


Next Year Budget


- - -




- - -


$ 98,108,513 $

13,933,628 $


$ 45,356,745

$ 314,450,862

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