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Board discusses creating Fund 46 to save for long‑range facilities projects; no vote tonight
Summary
Staff asked the board to create a Fund 46 and adopt a 10‑year facilities plan to start a five‑year waiting period before spending; board members discussed guardrails, rolling start of the five‑year clock and the lack of a required initial deposit.
District staff asked trustees to approve the establishment of a Fund 46 — a segregated fund used for capital projects — and a 10‑year facilities plan so the five‑year clock to spend money can begin.
Presenters said creating the fund does not obligate an immediate deposit, requires an approved 10‑year plan and a segregated bank account, and that money deposited into Fund 46 is subject to a five‑year waiting period before it can be spent. "To create the fund 46, there's 3 items we need...the 10 year facility plan...the board resolution...and a segregated bank account," a staff presenter said. Board members asked whether the five‑year timer is rolling (yes) and discussed how the fund would provide financial guardrails and state equalization advantages; staff said they would return with a recommendation that could be placed on a future consent agenda for approval.
