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Board approves routine year-end cash-transfer resolutions and EPA spending resolution
Summary
The board approved year-end resolutions authorizing short-term cash transfers (typically $100,000–$200,000) between the general fund and adult education/cafeteria funds and approved the Education Protection Account resolution documenting that EPA dollars are used for teacher salaries and benefits.
Ruth, the chief business officer, briefed the board on annual year-end financial housekeeping: resolutions authorizing limited intrafund cash transfers (typically to cover timing mismatches between revenue and payroll) and other required year-end transfer authority. Ruth said the short-term transfers are "usually within maybe a 100,000, maybe 200,000 at the most, and it's usually repaid pretty quickly."
Board members approved the cash-transfer resolution by roll call and then approved a required Education Protection Account (EPA) resolution that records EPA dollars and notes those funds are designated for classroom teacher salaries and benefits; staff said they will post actual expenditures in September.
