Resolution to Designate Reserve Account Amounts, Aug. 23, 2018

NOW THEREFORE BE IT RESOLVED, that the Board of Education of Schoharie Central School District does hereby authorize and direct that any fund balance of the General Fund that is available at the closing of the financial transactions and independent audit thereof for the school fiscal year ending as of June 30, 2018, be recorded in appropriate reserve accounts of the General Fund, as follows:

Employee Benefit Accrued Liability Reserve $859,652.00
Tax Certiorari Reserve $0.00
Capital Reserve Fund $2,500,000.00
Bus Purchase Capital Reserve Fund $554,970.00
Repair Reserve Fund $100,000.00
Unemployment Insurance Reserve $33, 619.52
Retirement Contribution Reserve $389,690.00
Liability Insurance Reserve $232,000.00 
 Workers’ Compensation Reserve $156,144.00
TOTAL $4,826,075.52