| Item Title: | Resolution No. 2020-2021.20 Approval to Establish Temporary Interfund Transfers |
| Item Type: | Action |
| Background: |
California Education Code 42603 allows districts to temporarily transfer moneys from any fund or account to another fund or account.
The Board of Education is being asked to adopt the attached resolution allowing temporary loans between the District’s funds during 2020-2021. These transfers are temporary and must be paid back under the provisions of California Education Code 42603 that are referenced in the resolution document. These loans will enable the District to meet the cash flow needs of all of the District’s individual funds.
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| AUSD LCAP Goals: | 4. Ensure that all students have access to basic services. |
Fiscal Analysis
Amount (Savings) (Cost): |
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| Recommendation: | Approve as submitted. |
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| AUSD Guiding Principle: | #5 - Accountability, transparency, and trust are necessary at all levels of the organization.| #6 - Allocation of funds must support our vision, mission, and guiding principles. |
| Submitted By: | Shariq Khan, Chief Business Officer |