|
|
|
|
|
|
|
|
|
Meeting Date:
|
4/9/2025 - 7:00 PM
|
|
Category:
|
Action Items
|
|
Type:
|
Action
|
|
Subject:
|
Approval of the Resolution to Authorize Transfer (Repayable Inter-fund Loan) from Working Cash to Education Fund.
|
|
Vision 2026:
|
Operational Excellence Strategies 2 Maintain strong fiscal health of the organization.
|
|
Background
|
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 $6,000,000, which will be in addition to the $19,000,000 loan approved on March 12, 2025, from the Working Cash Fund to the Education Fund.
|
|
File Attachment:
|
|
|
Summary:
|
In a separate resolution tonight, the Board of Education is being asked to rescind the Resolution Authorizing the Transfer of Monies from the Operations and Maintenance Fund to the Capital Projects Fund and the Resolution Authorizing the Transfer (Repayable Inter-fund Loan) from the Working Cash Fund to the Operations and Maintenance Fund, which will allow for an additional $6,000,000 to be released to Working Cash to be used for a loan to the Education Fund to cover operating expenses.
|
|
Funding:
|
|
|
Board Policy
:
|
|
|
Recommendation:
|
It is recommended that the Board of Education approve the attached resolution.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Jordan Thorse - Treasurer
|
|
|
Signed By:
|
|
|
Brian O'Keeffe - Asst Superintendent Business Services
|
|
|
Signed By:
|
|
|
Jeff Schuler - Superintendent
|
|
|
|
|
|
|
|
|