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District reports strong cash position and progress on solar-plus-battery energy project
Summary
Assistant superintendent of business said the district's cash position is strong after tax-roll receipts, reported about $3 million in in-lieu funds (one-third allocated to charter in lieu), and updated the board that a SiteLogic solar project with a high-school battery backup is more than halfway complete and expected to generate savings.
Olga, the assistant superintendent of business, told the board that a large tax roll and in-lieu receipts have improved the district's cash position; she said the district's in-lieu total is about $3,000,000 and that approximately one-third (about $1,000,000) is being sent to a charter in lieu. She said the district is on track for second interim close at the end of January and that cash flow had improved after recent receipts.
The board also received an update on the SiteLogic energy project. Staff described plans to shut down power for a weekend to hook up switchgear, finish solar work and install a battery backup system at the high school to lower peak utility costs; a state reimbursement was noted but expected to arrive in one to two years. "Our in lieu is about a total of $3,000,000, so I'm sending 0.333 out," Olga said. Another administrator described the battery backup as the source of the biggest savings by shifting load off peak-rate periods.
