ITEM NUMBER: 9.C.
School Board Regular Meeting
- Meeting Date:
- 10/07/2024
- Prepared By:
- Amanda Heilman
Item Type:
Subject:
Approval of Fund Transfer
Background:
As part of the FY 24 audit process, district administration is recommending that the school board approve a fund transfer for the 2023-24 year from Fund 47 (OPEB Debt Service) to Fund 07 (Debt Service). Fund transfers require board approval.
The fund transfer is due to the final bond principal and interest payments being made in FY 24. When this occurs, any remaining fund balance in the OPEB Debt Service fund must be permanently transferred to the Debt Service fund.
The fund transfer is due to the final bond principal and interest payments being made in FY 24. When this occurs, any remaining fund balance in the OPEB Debt Service fund must be permanently transferred to the Debt Service fund.
Recommended Action:
The administration recommends approval of the aforementioned fund transfer. This transaction will be reflected in the FY 24 financial statement.