Meeting Date:   10/16/2017 - 7:00 PM
Category:   Action Considerations - Consent Agenda
Type:   Action
Subject:   Action Consideration #1710-06 - Approval - Resolution Abating Working Cash
File Attachment:  
Working Cash Fund Abatement Resolution.pdf
Summary March 1, 2017 the District received the proceeds for the 2017 General Obligation Limited Tax School Bonds that will be used to fund the majority of the East addition and remodeling project currently in progress. These proceeds were deposited into the District's Working Cash Fund. In order to pay this month’s construction invoices associated with the addition and remodeling project from these proceeds, the Working Cash Fund will need to be abated to the Operations and Maintenance Fund in the amount of $676,554.43, which is the total of all the construction expenditures paid for this project in October 2017, net of a refund check from Mobile Mini. See the Construction Project Expenditure information report for more details on these expenditures. Included with this memo is a copy of the resolution to be approved by the Board.
Funding Funding to pay for construction cost is from the sale of the Series 2017 General Obligation Limited Tax School Bonds.
Recommendation That the Board of Education adopts the Resolution Abating Working Cash Fund, in the amount of $676,554.43, as presented.
Recommended By:
Signed By:  
Stefanie Croix - Director of Business Services
Signed By:  
Todd P. Wernet, Ed.D. - Superintendent