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Meeting Date:
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3/8/2023 - 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 IMRF Fund
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Vision 2026:
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Operational Excellence Strategies 2 Maintain strong fiscal health of the organization.
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Background
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Annually, the Board of Education 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 $1,500,000 from the Working Cash Fund to the IMRF 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 IMRF Fund.
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Approvals:
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Recommended By:
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Signed By:
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Jordan Thorse - 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 IMRF Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Brad Paulsen | Yes | | Chris Crabtree | Yes | | Rob Hanlon | Yes | | Susan Booton | Yes | | Dave Long | Yes | | Angela Blatner | Yes | | Julie Kulovits | Yes | |
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