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Board approves resolution moving working-cash funds into capital projects
Summary
The board voted unanimously to abate the working cash fund and move bond-related cash into the district's operations and maintenance/capital projects fund to support capital projects; the motion passed 5–0 with two members absent.
The Lake Bluff ESD 65 Board on Jan. 20 approved a resolution to abate the working cash fund and transfer bond-related cash into the operations and maintenance/capital projects fund.
Jay Kahn reviewed the district’s prior bond approvals and explained the mechanics of moving cash from bond accounts into the capital projects fund. Andrew Carlson moved the resolution; Tim Penich seconded it. The motion passed with a recorded vote of Yea: 5, Nay: 0, Absent: 2.
Board members did not raise substantive amendments to the resolution at the meeting; administration indicated the transfer aligns with previously approved bond planning.
