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Meeting Date:
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7/30/2024 - 7:00 PM
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Category:
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CONSENT ITEMS - RESOLUTIONS
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Type:
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Action
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Subject:
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11.4 Resolution No. 004-24/25, Resolution to Close Fund 20 and Transfer Balances to General Fund
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Attachment Summary
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File Attachment:
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Quick Summary / Abstract:
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Background:
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School Districts are authorized by Education Code section 42842 to establish a restricted fund known as the Special Reserve Fund. The Special Reserve Fund, established by the District for the purpose of funding postemployment benefits is no longer required.
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Status
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This resolution authorizes the Livermore Valley Joint Unified School District to close the restricted fund with the Auditor and Treasurer named Special Reserve – Postemployment Benefits Fund.
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Fiscal Impact
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A balance of $0 remains in Fund 20. There is no impact to the General Fund.
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Superintendent's Recommendation:
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Our Superintendent recommends adoption, by roll call vote, of Resolution No. 004-24-25, Resolution to Close Fund 20 and Transfer Balances to General Fund.
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Approvals:
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Recommended By:
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Signed By:
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Lynn Kneizeh - Executive Assistant
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Signed By:
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Torie F. Gibson, Ed.D. - Superintendent
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Vote Results:
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| Original Motion | | Member Kristie Wang Moved, Member Steven Drouin seconded to approve the Original motion 'Our Superintendent recommends adoption, by roll call vote, of Resolution No. 004-24-25, Resolution to Close Fund 20 and Transfer Balances to General Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Craig Bueno | Yes | | Emily Prusso | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | | Steven Drouin | Yes | |
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