Agenda Item
Meeting Date: 1/8/2020 - 7:00 PM
Category: Consent Agenda Items
Type: Action
Subject: Approval of the Resolution to Authorize Transfer (repayable inter-fund loan) from Working Cash Fund to Transportation Fund
Vision 2022:
Financial & Facilities Management
Continue to ensure a balanced budget that builds and maintains a fund balance that meets Board policy.
Policy:
Background: Annually, the Board approves inter-fund loans from the Working Cash Fund to the operating funds to cover shortfalls so that expenses may be paid. The Transportation Fund will be in need for the January 31, 2020 check run.

The attached loan request is for $2,750,000. This amount assumes that the two vouchered State Categorical payments in the amount of $1,064,754 will be received in the near future. If these funds are not received, an additional loan will be required presumably in April.
File Attachment:
WCF Loan to Transportation Fund FY20.pdf
Summary:
Funding:
Recommendation: It is recommended that the Board of Education approve the attached resolution to authorize transfer (repayable inter-fund loan) from the Working Cash Fund to the Transportation Fund.
Approvals:
Recommended By:
Signed By:
Kimberly Funkhouser - Treasurer
Signed By:
Bill Farley - Assist. Superintendent
Signed By:
Jeff Schuler - Superintendent
Vote Results:

Original Motion
Member Rob Hanlon Moved, Member Ginna Ericksen seconded to approve the Original motion 'It is recommended that the Board of Education approve the attached resolution to authorize transfer (repayable inter-fund loan) from the Working Cash Fund to the Transportation Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0.
The motion Carried 6 - 0
   
Brad Paulsen     Yes
Chris Crabtree     Yes
Rob Hanlon     Yes
Ginna Ericksen     Yes
Susan Booton     Yes
Dave Long     Yes