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Meeting Date:
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6/13/2023 - 5:30 PM
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Category:
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Business and Finance
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Type:
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Action
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Subject:
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10.15 Approval of Resolution #22-23:32, Cash Borrowing
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Strategic Goals:
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3. Fiscal Responsibility We manage our fiscal resources responsibly and align budget decisions with District goals and priorities.
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Enclosure
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File Attachment:
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Rationale:
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Approval of this resolution authorizes inter-fund borrowing up to $7,000,000 as needed during the 2023-2024 fiscal year to mitigate cash flow issues that may result from revenue received by the District due to available funds we are allowed to borrow from and their respective balances are as follows:
Fund 25.0 Capital Facilities Fund $1,000,000
Fund 67.0 Self-Insurance Fund $6,000,000
This Resolution comes to the Board of Education on an annual basis.
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Budgetary Impact:
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Recommendation:
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It is recommended the Board of Education approve Resolution #22-23:32, Cash Borrowing.
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Approvals:
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Recommended By:
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Signed By:
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Melissa Vera - Secretary to Assistant Superintendent, Business Services
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Signed By:
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Latasha Jamal - Assistant Superintendent, Business Services
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Signed By:
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Arturo Ortega - Superintendent
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Vote Results:
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| Original Motion | | Member Gabriela Arellanes Moved, Member Adrian Greer seconded to approve the Original motion 'It is recommended the Board of Education approve Resolution #22-23:32, Cash Borrowing.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Yolanda Rodriguez-Peña | Yes | | Adrian Greer | Yes | | Gabriela Arellanes | Yes | | Sabrina Bow, Ed.D. | Yes | | Sandra Benavides | Yes | |
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