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Cascade SD 5 OKs transfer of $18,309.91 in ASB funds to independent Turner Swim Team group
Summary
The board unanimously approved a resolution to transfer $18,309.91 in remaining Turner Swim Team ASB funds to the newly formed Turner Swim Team organization after the group established an EIN, bylaws, and a bank account, following an auditor recommendation.
The Cascade School District #5 Board on June 22 approved Resolution 3.B to transfer $18,309.91 in remaining Associated Student Body (ASB) funds to the newly formed Turner Swim Team organization. The motion was moved by Aaron Lee, seconded by Spencer Rockwell, and carried with all members voting yes.
Finance Director Mr. Wang told the board that the Turner Swim Team has completed steps to establish itself as an independent organization — obtaining an EIN, forming a governing board, adopting bylaws, and opening a bank account — and that the district auditor recommended the funds be formally transferred by resolution. The minutes state the transfer is intended to support continued student swimming activities under the new organization.
The board’s approval documents the transfer in the district minutes and supplies an administrative record should the new organization need proof of receipt for continued operations and programming.
