Jerome Joint School District No. 261

FINANCIAL MANAGEMENT 7600F

Declaration of Financial Emergency Resolution

DECLARATION OF FINANCIAL EMERGENCY

WHEREAS, the Board of Trustees of Jerome Jt. School District No. 261 met on ________________(insert date) to

review the financial state of the District;

WHEREAS, the Board of Trustees posted notice on _________________(insert date) of a public meeting to gather

input concerning possible solutions to the financial emergency facing the District;

WHEREAS, the Board of Trustees held a public meeting on _________________(insert date) to gather input

concerning possible solutions to the financial emergency facing the District pursuant to Idaho Code Section 33-

522(1);

Note: (select from one of the following, or both of the following, if applicable in regard to paragraph (d) or

paragraph (e))

WHEREAS, pursuant to paragraph (d) of subsection 33-522(2), Idaho Code, the Board of Trustees has determined

that the amount of property tax revenue to be collected by the District that may be used for any general fund

purpose, with the exception of any emergency levy funds, is reduced from the prior fiscal year, and the amount of

said reduction represents more than one and one-half percent (1 1⁄2%) of the District’s general fund budget for

combined state and local revenues from the prior fiscal year;

WHEREAS, pursuant to paragraph (e) of subsection 33-522(2), Idaho Code, the Board of Trustees has determined

that the District’s general fund has decreased by at least one and one-half percent (1 1⁄2%) from the previous year’s

level due to a decrease in funding or natural disaster, but not as a result of a drop in the number of support units or

the index multiplier calculated pursuant to section 33-1004A, Idaho Code, or a change in the emergency levy; and

WHEREAS, the State Department of Education has certified that the conditions set forth in paragraph (f) of section

33-522(2), Idaho Code, have been met in that the District’s unrestricted general fund balance, which excludes funds restricted by state or federal law and considering both anticipated expenditures and revenue, is less than five and one-half percent (5 1⁄2 %) of the District’s unrestricted general fund budget at the time the financial emergency is declared or for the fiscal year for which the financial emergency is declared;

NOW, THEREFORE BE IT RESOLVED, on ________________(insert date) that the Board of Trustees of Jerome Jt.

School District No.261 declares a financial emergency pursuant to Idaho Code Section 33-522 for the Fiscal Year ____ (insert year).

Legal reference: I.C. § 33-522 Financial Emergency

Form History:

Adopted on: 08/27/2013

Revised on: 02/25/2014