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Online Policy Manual
1.2 Financial Stability
- Financial stability will be maintained by MCCCD in perpetuity.
- Financial stability will be measured in terms of a Fund Balance Standard defined as the actual June 30 General Fund Balance as a percentage of actual General Fund Revenues for the fiscal year then ended.
- The Fund Balance Standard will be maintained at a minimum of 8% of general fund revenues, and may be modified only by the Governing Board.
Amended
through the Administrative Regulation approval process on April 14, 2003
Amended through the Administrative Regulation approval process on January
7, 2002.
Adopted
into Governance, September 24, 1996
Amended Motion No. 8894
Amended Motion No. 8895
Amended Motion No. 8896
Founding
Source:
Governing Board Minutes, June 28, 1994, Motion No. 8263
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