The budgeted ending fund balance for the district in the 24-25 school year is just over $3,600,000. That is about the same amount that is budgeted for the local property tax collections for the year. The property tax revenues will be collected, but not until the spring (mostly in April and May), and the district may not have enough cash in January, February, or March to cover the expenditures until the property tax is collected. There are two options to remedy this issue. The option that will take the least amount of Stacy Brown's time is for the board to pass a resolution approving a load from the Capital Projects Fund to the General Fund in case we need it. The second option is to request an apportionment advance from OSPI. At this time, Stacy believes the loan option is the way to go. Partly because once it is approved by the board, she can request the County Treasurer to loan the funds at any time. Please approve this resolution to give the flexibility to ensure the General Fund is solvent until the property taxes are received.
Administrative Recommendation /MOTION/ "I move we adopt Resolutions 24-16 as presented"