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Board adopts resolution committing $1,083,080 in Fund 14.0 for major and deferred maintenance
Summary
Resolution R-25-46 establishes a committed reserve of $1,083,080 in Fund 14.0 for major and deferred maintenance to support the district's Facilities Implementation Plan and to comply with GASB Statement 54; the board approved the resolution 5-0.
The board approved Resolution R-25-46 at the Sept. 24 meeting to establish a committed reserve in Fund 14.0 totaling $1,083,080 for major and deferred maintenance. Dr. Joshua Randall told trustees the reserve is intended "to help ensure the District can meet its Facilities Implementation Plan" and that the Governing Board reaffirms its commitment to adhere to the reporting requirements set forth by GASB Statement 54.
Trustee Ken Chase moved to approve the resolution; Trustee Lori MacDonald seconded and the motion passed 5-0 by voice vote. The resolution formalizes a dedicated funding commitment for facilities work and aligns the district's fund-balance reporting with GASB 54 guidance.
