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Meeting Date:
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4/9/2025 - 7:00 PM
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Category:
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Action Items
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Type:
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Action
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Subject:
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Approval of the Amendment to the Resolution Authorizing the Transfer (Repayable Inter-Fund Loan) from the Working Cash Fund to the Operations and Maintenance 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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In advance of the first debt issuance associated with the November 2024 Capital Referendum, an inter-fund loan was necessary to ensure CUSD 200 met it obligations related to the 2024 Referendum. An inter-fund loan of $6,000,000 from the Working Cash Fund to the Operations and Maintenance Fund was approved at the January 2025 Regular Board of Education meeting. The inter-fund loan that was approved was separate from the inter-fund loans that the Board of Education authorizes each spring to address cash shortfalls in Operating Funds.
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File Attachment:
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Summary:
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CUSD 200 received funds from the initial debt issuance associated with the November 2024 Middle School Capital Referendum on March 25, 2025. To release the $6,000,000 to be used for inter-fund loans from the Working Cash Fund to the Operating Funds to address cash shortfalls and ensure expenses can be covered, an amendment to rescind the Resolution Authorizing the Transfer (Repayable Inter-fund Loan) from the Working Cash Fund to the Operations and Maintenance Fund is required.
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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.
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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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