Featured image of article: No. 3: COVID – Impact on Unreserved Fund Balance

No. 3: COVID – Impact on Unreserved Fund Balance

by ConVal School Board Member Jim Fredrickson

November 25, 2020

“Unreserved Fund Balance” is an important portion in our budget to understand since it represents the amount “returned” to the taxpayers every year in the form of a reduction in tax assessments for the following year.

Unanticipated expenses associated with COVID-19 have reduced the amount available to be returned this year, and recent state guidance allows Districts to retain more of the unreserved fund balance than normally allowed.

This article explains the concept in greater detail and what it means for future budgets.