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Meeting Date:
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6/13/2024 - 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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10.17 Approval of Resolution #23-24:34 Cash Borrowing
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Strategic Goals:
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3. Budget and Finance To be responsible stewards of public funds and maximize the
resources needed to meet our goals, fulfill our priorities, and live up to
our values.
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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 2024-2025 fiscal year to mitigate cash flow issues that may result from lack of revenue due to the District. We are allowed to borrow up to the amounts and from the funds listed below:
Fund 25.0 Capital Facilities Fund $1,000,000
Fund 67.0 Self-Insurance Fund $6,000,000
This Cash Borrowing 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 #23-24:34 Cash Borrowing.
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Approvals:
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Recommended By:
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Signed By:
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Patricia Loera - Secretary to the 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 Sabrina Bow, Ed.D. seconded to approve the Original motion 'It is recommended the Board of Education approve Resolution #23-24:34 Cash Borrowing.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 3 Nay: 0. | | The motion Carried 3 - 0 | | | | | Yolanda Rodriguez-Peña | Yes | | Gabriela Arellanes | Yes | | Sabrina Bow, Ed.D. | Yes | |
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