Fund balance policy

The Kernersville Board of Aldermen (BOA) took up a resolution to update the Town’s Fund Balance Policy at the BOA meeting on Wednesday at the Kernersville Municipal Chambers.
The BOA was requested to consider for approval a Fund Balance Policy for the General Fund that establishes an “unrestricted” fund balance equal to or greater than 10% of the budgeted expenditures. For more, see the Saturday/Sunday, March 4 & 5, 2023 edition.