The Lake County School District's unreserved portion of its fund balance has been significantly reduced during the past two years. This reduction has occurred for two reasons. The district does not have consensus on strat
District officials do not communicate sufficiently with each other during budget preparation and amendment processes. As a result, budget decisions are made without always fully considering the financial implications.
To correct this situation the district should adopt a strategic plan;
identify annual priorities before the budget is drafted, including the amount to be held in reserve; and
improve and increase communication among staff and between staff and the board, including developing written procedures to aid staff in budget development.

Lake County School District Has Implemented Best Practices and Is Eligible For State Seal
Report 05-05 February 2005
Progress Report: Lake District Not Yet Eligible for the State's Seal of Best Financial Management
Report 03-72 December 2003

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.