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Meeting Date:
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6/14/2022 - 5:00 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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11.9 Approval of Resolution #21-22:45, Temporary Inter-Fund 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 will authorize inter-fund borrowing up to $7,000,000.00 as needed during the 2022-23 fiscal year to mitigate cash flow issues that may result from timing between revenues received and expenditures completed.
Fund 25.0 Capital Facilities Fund $1,000,000
Fund 67.0 Self-Insurance Fund $6,000,000
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Budgetary Impact:
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Recommendation:
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It is recommended the Board of Education approve Resolution #21-22:45, Temporary Inter-Fund 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 Yolanda Rodriguez-Peña Moved, Member Sabrina Bow, Ed.D. seconded to approve the Original motion 'It is recommended the Board of Education approve Resolution #21-22:45, Temporary Inter-Fund Cash Borrowing.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion Carried 4 - 0 | | | | | Xilonin Cruz-Gonzalez | Yes | | Yolanda Rodriguez-Peña | Yes | | Adrian Greer | Yes | | Sabrina Bow, Ed.D. | Yes | |
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