Agenda Item
Meeting Date: 3/11/2020 - 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 Education 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 interfund loans from the Working Cash Fund to the operating funds to cover cash shortfalls so that expenses may be paid. Although the District has submitted a balanced budget, a loan is needed for cash flow purposes. We are requesting a loan in the amount of $23,200,000 from the Working Cash Fund to the Education Fund.
File Attachment:
WCF Loan to Education 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 Working Cash Fund to Education 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 Ginna Ericksen Moved, Member Susan Booton 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 Working Cash Fund to Education Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0.
The motion Carried 5 - 0
   
Brad Paulsen     Yes
Rob Hanlon     Yes
Ginna Ericksen     Yes
Susan Booton     Yes
Dave Long     Yes