Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Cash Management topic
No spam. Unsubscribe anytime.
Board authorizes $3 million interfund loan to maintain operations pending tax receipts
Summary
To avoid Tax Anticipation Warrants and maintain cash flow until county tax receipts arrive, the board approved a temporary $3,000,000 interfund loan from Working Cash to the Education Fund.
With county tax receipts delayed, district staff recommended using fund balances temporarily rather than issuing Tax Anticipation Warrants. The board approved a $3,000,000 interfund loan from the Working Cash Fund to the Education Fund as a short‑term cash‑flow measure; the motion (Mrs. Goggin, second Mr. Barrett) passed unanimously on roll call.
The minutes note the interfund loan is temporary and will be repaid when receipts become available. Board materials framed the resolution as a cash-management tool rather than a permanent transfer; accounting entries and repayment timing will be recorded by the business office and reflected in future financial statements.
