Broward School Board to set aside financial reserves
From David Volz
At its Special School Board Meeting on Tuesday, October 18, 2022, The School Board of Broward County, Florida voted to approve a set aside amount of $7,705,000 in reserves to ensure that the District will be able to continue to provide the same level of services to Broward County Public Schools students, staff and the community in the event of an economic downturn.
“During recent budget workshops, our Deputy Superintendent of Operations shared that many analysts and financial experts are predicting a slowdown in our economy, which could impact future revenue for the School District,” said School Board Chair Torey Alston. “By thinking ahead and implementing strategic budget decisions to provide financial stability for the District, we proposed and approved to set aside these funds in reserves to be used solely for this future impact.”
The School Board agreed to set aside the funds in reserves to decrease negative impacts to schools and students. The recommendation for providing relief to Broward families and District schools realigns General Funds dollars to the Unassigned Fund Balance. This is the first time in more than 15 years, the School Board has set aside money in the fund balance upon approval of the millage rate.
