Organization Operating Income Reserve 9/14/10

Prudent financial management and stewardship requires that organizations have an operating income reserve to provide operating funds to the organization in the case of an emergency or to the organization during a period of strained cash flow procedures.

TRIO Wolf Creek Distance Learning Charter School #4095 shall develop and maintain an operating reserve of __180 ___days.

The funds in the operating reserve are to be placed in a bank account that is separate from the annual operating budget.

The funds in the operating reserve may not be invested in any speculative instrument.

The funds in the operating reserve cannot be borrowed from or drawn down without board approval of a roll call vote.