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Oakdale trustees approve developer-fee balance report and adopt updates to fund-transfer and budget presentation policies
Summary
Trustees received a quarterly developer-fee report showing an ending balance of about $2.5 million and approved revisions to AR 3110 (transfer of funds) and BP/AR 3100 (budget presentation), preserving a 5% minimum fund balance.
At its meeting the Oakdale Joint Unified School District board approved routine fiscal items including a quarterly developer‑fees report and revisions to transfer‑of‑funds and budget‑presentation policies.
Cassandra Booth reported that between March 31 and June the district collected developer fees associated with two homes in the Tesoro area, two accessory dwelling units and one Valley Home replacement; she said the developer fee fund closed the year with a balance of approximately $2,500,000. Booth then presented a second-reading request to approve revisions to AR 3110 (Transfer of Funds) and BP/AR 3100 (Budget) that staff had introduced at the June meeting.
Board members moved, seconded and voted to approve the revisions. The updated budget presentation regulation modernizes how the district shows budget contents (the policy dated to 2009) and retains the district’s longstanding 5% minimum fund balance requirement, a detail Booth highlighted as unchanged.
Those motions were approved at the meeting; board members also approved the consent calendar and other routine items earlier in the agenda.
