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CBO recommends moving $2 million to dedicated cash‑flow reserve to avoid payroll shortfalls
Summary
Chief Business Officer Stephen Choi recommended restructuring committed balances and moving $2 million into a cash‑flow fund (Fund 17.2) after presenting current cash needs, noting the district's existing cash would not cover a full month's payroll without the transfer.
San Marino Unified's Chief Business Officer Stephen Choi told the Board of Education that the district's cash-on-hand in Fund 17.2 would not cover a full month of payroll and recommended transferring $2 million into the cash-flow fund to improve liquidity.
Choi presented the fund balance breakdown and said the district’s Fund 17.2 cash balance is about $1.8 million while annual salary obligations…
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