Understanding fund balance and other financial policies is critical to establishing goals, strategy and credibility for your governmental organization. As a board member of a local or state governmental entity, this short podcast in Baker Tilly’s board governance series will provide an overview of key financial policies, including fund balance, to assist your management team and ensure accountability with constituents.
The fund balance podcast covers the following topics:
- Benefits and risks
- Policies to consider
- Best practices
Fund balance policy
- Five categories of fund balance (for restricted and unrestricted funds)
- Appropriate levels of fund balance
- Replenishment of fund balance
For more information on this topic, or to learn how Baker Tilly board governance specialists can help, contact our team.