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Saginaw board approves $10 million transfer to bond reserve to finish 2020 projects
Summary
The board approved moving $10,000,000 from the General Fund to the Bond Reserve Fund to complete Bond 2020 projects; the voice votes recorded 5 ayes and 0 nays.
The Saginaw Board of Education approved transferring $10,000,000 from the General Fund to the Bond Reserve Fund to complete projects tied to the Bond 2020 program.
A motion "to move $10,000,000 of the General Fund fund balance to the Bond Reserve Fund to complete the Bond 2020 projects" was moved by Ms. Knapp and supported by Mrs. Seals; a voice vote recorded Ayes: 5, Nays: 0, and the motion carried.
Trustees did not record further conditions on the transfer in the meeting minutes. The transfer was listed as Consent Agenda item G and the board took the action during the meeting's action items.
