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Meeting Date:
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3/9/2022 - 7:00 PM
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Category:
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Consent Agenda Items
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Type:
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Action
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Subject:
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Approval of the Resolution to Authorize Transfer (Repayable Inter-fund Loan) from Working Cash Fund to Education Fund
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Vision 2026:
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Financial & Facilities Management 1 Continue to ensure a balanced budget that builds and maintains a fund balance that meets Board policy.
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Background
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Annually, the Board approves interfund loans from the Working Cash Fund to the operating funds to cover cash shortfalls so that expenses may be paid. Although the District has submitted a balanced budget, a loan is needed for cash flow purposes. We are requesting a loan in the amount of $23,200,000 from the Working Cash Fund to the Education Fund.
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File Attachment:
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Summary:
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Funding:
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Board Policy
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Recommendation:
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It is recommended that the Board of Education approve the attached resolution to authorize transfer (repayable inter-fund loan) from Working Cash Fund to Education Fund.
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Approvals:
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Recommended By:
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Signed By:
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Kimberly Funkhouser - Treasurer
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Signed By:
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Brian O'Keeffe - Asst Superintendent Business Services
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Signed By:
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Jeff Schuler - Superintendent
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Vote Results:
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Original Motion | Member Susan Booton Moved, Member Rob Hanlon seconded to approve the Original motion 'It is recommended that the Board of Education approve the attached resolution to authorize transfer (repayable inter-fund loan) from Working Cash Fund to Education Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0. | The motion Carried 6 - 0 | | | Brad Paulsen | Yes | Chris Crabtree | Yes | Rob Hanlon | Yes | Susan Booton | Yes | Mary Yeboah | Yes | Angela Blatner | Yes | |
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