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Board approves annual borrowing resolution to cover cash-flow gaps; vote 5–0
Summary
The board approved its routine annual resolution authorizing temporary borrowing from the Alameda County treasurer to cover interim cash-flow needs until property-tax revenues arrive, passing the measure by roll-call, 5–0.
The board considered a routine annual resolution that authorizes the district to borrow from the Alameda County treasurer on a short-term basis for cash-flow needs. District staff explained the practice is to bridge expenditures until property-tax revenues arrive in December and April and that past practice has included repaying borrowed amounts with interest once receipts are received.
After no public comment, the board took a roll-call vote and the resolution passed unanimously (5–0). Trustees recorded their votes in the roll call and the district staff confirmed the procedure would continue as in previous years.
