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District staff preview final budget, warn of October cash shortfall; recommend $15 million TAN authority
Summary
Finance staff reviewed the district's final budget and cash‑flow timing, told trustees a tax anticipation note (TAN) will be needed to cover payroll before local property tax distributions arrive, and discussed charter pro rata and fund‑balance levels.
Finance staff on Thursday reviewed the district's final budget draft and outlined cash‑flow timing that, staff said, could put the district into negative cash in mid‑October unless the board adopts short‑term borrowing.
Budget figures and timing: Finance director Mr. Green said the district's general operating fund is about $238 million and that the board will adopt two resolutions on Sept. 9: one to set final millage rates and one to adopt a final budget. He described a total‑funds number he presented to the board in the workshop (spoken during the meeting as "total final budget, all funds of $420,000,356 $693"). Staff summarized the finance calendar and said the district must submit millage documentation within days after the hearing under state…
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