Financial planning for any fiscal year or the remaining part of any fiscal year shall reflect the board's end priorities, avoid fiscal jeopardy, and shall be derived from a multi-year plan.
Accordingly, the president shall assure budgeting that:
- Complies with Oregon Local Budget Law.
- Contains sufficient information to enable credible projections of resources and expenditures as presented in the Budget Document in accordance with Oregon Local Budget Law.
- Discloses planning assumptions.
- Limits expenditures in any fiscal year to conservatively projected resources for that period.
- Maintains current assets at any time to at least twice current liabilities.
- Complies with budget and financial policies contained in Section E.
ADOPTED: November 9, 1998
REVISED: April 12, 2000
REVISED: January 14, 2004
REVIEWED: October 10, 2007
REVIEWED: March 17, 2010