2021-2022 Reserve Plan – Planned Use and Projected Balances
Restricted Fund Balance: |
Actual June 2021 |
Planned Activity 2021-2022 |
Projected June 2022 |
Notes for planned activity |
| Workers’ Compensation Reserve | $1,115,227 | $1,115,227 | ||
| Unemployment Insurance Reserve | $366,500 | $366,500 | ||
| Reserve for Retirement Contributions | $2,975,781 | -$195,000 | $2,780,781 | Transfer $195,000 to fund the TRS reserve. |
| Reserve for Retirement Contributions TRS | $186,187 | +$195,000 | $381,187 | Fund the reserve at 2% of TRS payroll. |
| Reserve for Property Loss | $482,112 | $482,112 | ||
| Reserve for Liability Claims | $25,649 | $25,649 | ||
| Insurance Reserve | $0 | $0 | ||
| Reserve for Tax Certiorari | $48,606 | $48,606 | ||
| Reserve for Employee Benefits and Accrued Liabilities | $179,101 | $179,101 | ||
| Construction Capital Reserve Fund (2010) | $85,418 | -$85,418 | $0 | Use remaining balance to offset the cost of the capital outlay project |
| Construction Capital Reserve Fund (2020) | $500,000 | $500,000 | ||
| Construction Capital Reserve Fund (2022) | $0 | +$2,051,888 +$948,112 |
$3,000,000 | Fund the reserve from the Reserve for Debt and Reserve for Tax Reduction |
| Capital (Bus Purchase) Reserve Fund (2015) | $1,919,643 | -$392,372 +$77,836 -$77,836 |
$1,527,271 | Use $392,372 to purchase 3 66-passenger buses (if authorized by voters). Transfer $77,836 from Reserve for Tax Reduction and use for purchase of one smaller vehicle |
| Capital (Bus Purchase) Reserve Fund (2022) | $0 | +$142,835 | $142,835 | Obtain voter approval to establish a 10-year reserve with maximum contribution at $3M. Resolution & proposition should allow BOE to fund the reserve by resolution. Deposit state aid from bus purchases back into the reserve. |
| Reserve for Debt | $2,051,888 | -$2,051,888 | $0 | Transfer the funds from the Reserve for Debt to the Construction Capital Reserve (2022) to fund necessary maintenance and repairs. Requires voter approval. |
| Reserve for Tax Reduction | $1,025,948 | -$1,025,948 | $0 | Transfer funds to Construction Capital Reserve (2022) to fund necessary maintenance and repairs and Capital Bus Purchase Reserve (2015) to purchase buses. |
| Other Restricted Fund Balance | $0 | |||
| Total Restricted Fund Balance | $10,962,060 | $10,549,269 | Without the addition of excess fund balance | |
| Assigned Appropriated Fund Balance | $2,519,558 | $2,519,558 | ||
| Unassigned Fund Balance | $3,774,206 |