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Meeting Date:
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4/19/2022 - 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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13.2 Approval of Resolution #21-22:30, The Closure of Fund 53.0 Tax Override Fund
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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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The Tax Override Fund was originally established to account for repayment of voter approved indebtedness (other than Bond Interest and Redemption Fund repayments) to be financed by ad valorem taxes, such as public-school building loans. Interest earned in the Tax Override Fund is credited to the General Fund. There has not been any activity, other than interest earnings since the 2003-2004 fiscal year. The remaining amount in Fund 53 that was transferred to the General Fund was $12,017.72.
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Budgetary Impact:
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Recommendation:
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It is recommended the Board of Education approve Resolution #21-22:31, The Closure of Fund 53.0 Tax Override Fund.
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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 Gabriela Arellanes seconded to approve the Original motion 'It is recommended the Board of Education approve Resolution #21-22:31, The Closure of Fund 53.0 Tax Override Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Xilonin Cruz-Gonzalez | Yes | | Yolanda Rodriguez-Peña | Yes | | Adrian Greer | Yes | | Gabriela Arellanes | Yes | | Sabrina Bow, Ed.D. | Yes | |
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