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Red Oak ISD moves funds to assigned balance for potential residential placements
Summary
The Board approved transferring funds from the Undesignated fund (3600) to Assigned (3590) for potential residential placement, voting unanimously on the measure.
The Board approved a transfer of fund balance from Undesignated (3600) to Assigned (3590) to reserve funds for potential residential placement, following a recommendation from Chief Financial Officer Dr. Bill Johnston.
"Ms. Knight made a motion to approve the transfer of funds from Undesignated (3600) to Assigned (3590) Fund Balance for potential residential placement. Mr. Sebring seconded the motion. The motion passed 7 – 0," the minutes record. The agenda item and minutes do not specify an amount; the transfer was approved as a board action to set aside funds for possible future residential placement needs.
The Board’s action assigns a portion of the district’s fund balance for a specified possible use; staff will follow district finance procedures to record the assignment in the financial statements.
