Rainbow financially prepares for the future by investing in our capital assets and building our reserves. Like other public entities, we are required to develop a balanced budget each year, planning for our expenditures to match our expected revenue.
Our Budget Committee meets each year in April and May and is tasked with recommending a budget to the Board of Commissioners to plan for the next July 1 to June 30 fiscal year. Some of our revenues are budgeted to go into reserve funds, savings accounts that allow us to save across multiple years for larger projects in the future, or to help us absorb unexpected expenses or drops in earnings. Our budgets are published to allow comment prior to their approval at the June board meeting. By December each year, auditors review our accounts and publish a report that covers the prior fiscal year activities.
Current year plus three prior years
Most recent plus three prior years