EL 4  Financial Condition and Activities

With respect to the actual, ongoing financial condition and activities, the Superintendent shall not cause or allow the development of financial jeopardy or material deviation of actual expenditures from board priorities established in Ends policies.

Further, without limiting the scope of the foregoing by this enumeration, the Superintendent shall not

1. Expend more funds than have been received in the fiscal year to date unless the debt guideline (below) is met

2. Incur debt in an amount greater than can be repaid by certain otherwise unencumbered revenues within sixty days

3. Use any long-term reserves

4. Conduct interfund shifting in amounts greater than can be restored to a condition of discrete fund balances by certain otherwise unencumbered revenues within thirty days

5. Fail to settle payroll and debts in a timely manner

6. Allow tax payments or other government-ordered payments or filings to be overdue or inaccurately filed

7. Make a single unbudgeted purchase or commitment of greater than $ 50,000. Splitting orders to avoid this limit is not acceptable.

8. Acquire, encumber, or dispose of real property

9. Fail to aggressively pursue receivables after a reasonable grace period