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Meeting Date:
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9/7/2021 - 5:30 PM
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Category:
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Items pulled from Consent Calendar
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Type:
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Action
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Subject:
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11.1 Approval of Resolution #21-22:02, Authorization for Temporary Borrowing Between Funds
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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 $10,000,000.00 as needed during the 2021-22 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 14.0 Deferred Maintenance Fund $2,500,000 Fund 25.0 Capital Facilities Fund $1,000,000 Fund 67.0 Self-Insurance Fund $6,500,000
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Budgetary Impact:
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Recommendation:
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It is recommended the Board of Education approve Resolution #21-22:02, Authorization for Temporary Borrowing Between Funds.
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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 Xilonin Cruz-Gonzalez seconded to approve the Original motion 'It is recommended the Board of Education approve Resolution #21-22:02, Authorization for Temporary Borrowing Between Funds.'. 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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