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District 208 board approves interfund loan from Working Cash Fund to Education Fund to cover operating expenditures
Summary
The board unanimously approved Resolution #15208 authorizing a loan from the Working Cash Fund to the Education Fund to cover operating expenses until Cook County tax receipts are distributed; the loan will be repaid upon receipt of real estate taxes.
At the Nov. 11 meeting the Board of Education approved Resolution #15208 authorizing a loan from the Working Cash Fund to the Education Fund to cover operating expenditures until the district receives Cook County real estate tax distributions.
Ms. Lorena Gasca moved the resolution and Mr. Nicholas Novak seconded. The minutes record the board "approves the Resolution in substantially the form presented to the Board to loan moneys from the Working Cash Fund to the Education Fund." The following members voted AYE: Caputo, Durkin, Gasca, Hruska, Novak, Williams and Zalas; no members voted NAY and none were absent. According to the record, the funds will be repaid when the county distributes real estate tax receipts to the district.
