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OPTN board approves transfer of reserves to HRSA-managed primary account
Summary
The board authorized releasing OPTN reserve funds held by the contractor into the OPTN primary account to be managed with HRSA oversight, voting 28–2 to authorize officers to take necessary steps to carry out the transfer.
The OPTN board voted to authorize the release of funds from OPTN reserve accounts currently held by the contractor and directed OPTN officers to take any actions necessary to transfer those reserves into the OPTN primary account to be held with HRSA.
Board members emphasized that these are OPTN funds and that moving them into the HRSA-managed primary account will support cash flow continuity while new fees begin being collected. A staff presentation said reserves will help manage the first months after any fee change when cash inflows may be lower than projected.
The motion — authorizing the release of all funds from OPTN reserve accounts to the OPTN primary account and empowering officers to carry out the transfer — was moved and seconded and passed by a 28–2 vote with 0 abstentions. Board officers will coordinate with HRSA and the contractor to execute the transfer and maintain transparency on burn rates and annual accounting of the funds.
Board members asked that documentation and continued transparency accompany the transfer so the board and stakeholders can monitor reserve balances and usage.
