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Board approves year‑end fund transfers and temporary interfund borrowing
Summary
On May 12 the board passed Resolution #26‑20 authorizing transfers between fund balances at year‑end (Ed Code 42601) and Resolution #26‑21 permitting temporary interfund transfers (Ed Code 42603); both were approved unanimously by present trustees with Trustee McKnight absent.
The Mark West Union School District board unanimously approved two fiscal resolutions on May 12 to manage year‑end accounting and short‑term cash needs.
Resolution #26‑20 authorizes transfers between fund balances and expenditures at the close of the fiscal year pursuant to Education Code 42601; Resolution #26‑21 establishes temporary interfund transfers (borrowing) under Education Code 42603. Both measures passed on motions by Trustee Sara Azat (mover) with seconds recorded in the official minutes; roll call recorded Aye=4, Nay=0, Abstain=0 and Trustee Victor McKnight listed as absent.
Board materials show the approvals were procedural steps allowing district leadership to adjust fund classifications and provide short‑term liquidity as needed before fiscal year close. The motions were presented and approved during the Action/Discussion segment of the meeting; no specific transfer amounts were disclosed in the public minutes.
Why it matters: these authorizations are standard fiscal controls that enable the district to comply with state education code while ensuring cash flow and accurate year‑end accounting. Any actual transfers or borrowing will be reflected in subsequent financial reports or audits.
