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Board OKs placeholder participation in CSBA cash reserve program
Summary
Trustees voted to enter a placeholder transfer position in the California School Boards Association cash-reserve mechanism, discussing a potential maximum placeholder of $1,000,000 and an anticipated transfer in the $750,000–$850,000 range; staff will return with final numbers.
The board discussed and voted to approve staff laying groundwork for participation in the California School Boards Association (CSBA) cash-reserve program. Staff described the action as preliminary: it would reserve a spot for up to $1,000,000 but the likely transfer, when finalized, was estimated at $750,000–$850,000.
“...the max would be 1000000 dollar need. She anticipates that it would be around 750,000 to 850,000 actual when the books all flowed out,” a board member (S2) said while presenting the item. Backup materials cited an estimated net cost to the district in the ballpark of $3,000 after interest adjustments. Trustees approved the motion to pursue the reserve spot and directed staff to return with final numbers and rationale in August.
The program was presented as a cash-management tool; trustees did not finalize an exact dollar amount at this meeting.
