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Meeting Date:
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6/28/2022 - 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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12.5 Resolution No. 129-21/22, Temporary Borrowing Between Funds for Fiscal Year 2022-2023
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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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State funding flows to our District at different times of the year based on statutory timelines and formulas, which may result in short term cash shortages in the General Fund. We closely monitor our cash flow conditions and take action to borrow from other funds if necessary.
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Status
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Education Code 42603 requires the Livermore Valley Joint Unified School District (LVJUSD) to have a resolution in place before any borrowing can take place between funds.
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Fiscal Impact
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There is no long-term impact to the General Fund. These temporary transfers ensure fiscal solvency and the ability to meet financial obligations.
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Superintendent's Recommendation:
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Our Superintendent recommends adoption, by roll call vote, of Resolution No. 129-21/22, Temporary Borrowing Between Funds for the Fiscal Year 2022-2023.
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Approvals:
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Recommended By:
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Signed By:
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Jodi Robison - Executive Assistant
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Signed By:
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Susan Kinder - Assistant Superintendent
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Signed By:
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Kelly Bowers, Ed.D. - Superintendent
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Vote Results:
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| Original Motion | | Member Emily Prusso Moved, Member Kristie Wang seconded to approve the Original motion 'Our Superintendent recommends adoption, by roll call vote, of Resolution No. 129-21/22, Temporary Borrowing Between Funds for the Fiscal Year 2022-2023.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Craig Bueno | Yes | | Anne White | Yes | | Emily Prusso | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | |
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