Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Funding topic
No spam. Unsubscribe anytime.
Board authorizes transfer of $1.6 million in state match to capital fund for Measure projects
Summary
The board approved a resolution authorizing transfer of $1,600,000 in state matching dollars from fund 35 to fund 40 to align tracking with Measure S/HV capital projects such as fencing and reroofing; staff said the funds were deposited by the Los Angeles County Office of Education.
District staff reported the Los Angeles County Office of Education deposited $1,600,000 in state matching funds to fund 35 and recommended authorizing a transfer to fund 40 so the dollars can be tracked appropriately for Measure S/HV capital projects.
Miss Montalvo told the board the funds relate to projects at Hermosa Valley (fencing and reroofing examples were cited) and that fund 40 is used to track capital outlay. Board members asked whether the transferred funds have any specific allocations; staff said the money must align with the projects approved by the Measure and provide an illustrative example of how state matching funds are reconciled. The board approved the cash transfer resolution by voice vote.
