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Board approves transfer from principal fund to cover ASB deficit, seeks repayment plan
Summary
Trustees authorized a transfer from a principal fund to cover a roughly $27,000 negative line item in the Associated Student Body accounts while staff works to recover held foundation/IRS funds and develop reimbursement procedures; an ASB manual is expected next month.
The board approved a transfer from the West Valley principal fund to cover a reported ASB deficit (discussed in the meeting as approximately $27,000) and asked staff to pursue recovery of foundation-held funds and to return with clearer procedures.
Trustees and staff described the ASB account structure and reasons some funds were temporarily restricted by IRS/foundation processes. One trustee said the district must make sure all accounts "are in the black before June 30." The motion to transfer principal funds carried with the condition that staff continue efforts to have foundation/IRS-held funds released and that the district pursue reimbursement when possible. Staff said an ASB manual and procedural recommendations will be presented next month to clarify how principal funds and club accounts should be handled going forward.
Board discussion also noted equity concerns about using site principal funds to cover program-specific deficits and asked staff to include safeguards so that future deposits to an ASB account would be applied toward reimbursement of district support as appropriate.
