Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Board approves temporary interfund transfer to manage uneven cash flows
Summary
Trustees approved a routine resolution allowing short‑term borrowing between district funds to cover cash‑flow timing gaps tied to property‑tax receipts; staff said transfers are typically short‑term and governed by Education Code procedures.
The Amador County Unified School District board on Monday approved a resolution authorizing temporary interfund transfers to address short‑term cash shortfalls tied to the timing of property‑tax receipts. District staff said the move is a routine cash‑management tool used to ensure the general fund can pay bills when revenues arrive unevenly during the year.
"Our revenues do not come to us in a nice even 12‑month allotment," a district administrator explained, noting most LCFF property‑tax cash arrives in December and April. The board debated the legal safeguards and frequency of the transfers before moving to approve the measure.
The resolution, described by staff as companion to a county action, is intended to allow brief borrowing between funds when necessary and requires repayment plus interest if not promptly returned. Trustee Peter said he viewed the authorization as routine and clear; the motion passed on a roll call with all trustees voting yes.
The district characterized the transfers as short in duration — often measured in days rather than weeks — and said they are permitted under state law. Staff also noted the district will continue reporting companion items to maintain transparency with the board and the public. The board took no additional direction and closed the item.
