DBI FUND BALANCE DESIGNATION
D - FISCAL MANAGEMENT
FUND BALANCE DESIGNATION
The Uinta County School District #1 adopts the following definitions of fund classifications for the year-end audit, effective July 1, 2011:
Non-spendable: Amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.
Restricted: Fund balance should be reported as restricted when constraints placed on the use of resources are either:
- Externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments; or
- Imposed by law through constitutional provisions or enabling legislation.
Unrestricted Committed: Used for specific purposes pursuant to constraints imposed by formal action of the Uinta County School District #1 School Board.
Unrestricted Assigned: Amounts that are constrained by the Uinta County School District #1 intent to be used for specific purposes, but are neither restricted nor committed. The Board designates the superintendents with consultation of the business office the ability to designate unrestricted assigned amounts.
Unrestricted Unassigned: Unassigned fund balance is the residual classification for the General Fund. This is the only fund balance that has not been reported in any other classification. The General Fund is the only fund that can report a positive unassigned fund balance. Other governmental funds would report deficit fund balances as unassigned.
When restricted funds and unrestricted funds may both be used for an expenditure, restricted funds are used first.
The Board shall commit fund balance at any time through board action.
At the June and July board meetings, the board may move to assign fund balances.