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Staff reports pooled-cash shortfall; plans immediate and monthly transfers
Summary
Staff reported the pooled-cash account was about $26,000 in the red and proposed an immediate $45,000 transfer and monthly transfers of about $38,932.50 through June to restore a positive balance; concessions and tournament revenue were cited as offsets.
A staff member (Speaker 5) told the board the pooled cash account was approximately $26,000 in the red "as of today" and described a plan to restore a positive balance.
Why it matters: The pooled-cash shortfall affects the board's ability to pay routine expenses and operate recreational programs; the transfers described would pull funds from other lines and rely on upcoming concession and tournament revenue to sustain balances.
Speaker 5 said they planned an immediate transfer of $45,000 and then monthly transfers — roughly $38,932.50 — through June. Staff estimated that, after the transfers and expected concession deposits, the account would return to a positive balance (staff cited an estimated post-transfer balance of about $13,004.42). The staff member said they would make transfers as needed and check line-item balances at year end to move money between lines to correct negatives.
Board members asked clarifying questions about timing and the impact on other line items; staff said they would monitor receipts from spring tournaments and concessions and make incremental transfers.
Next steps: Staff will carry out the immediate transfer and continue monthly transfers until June, monitoring revenue sources and reporting back.
