Lets the district borrow between its own funds for cash flow in 2020-21

The board adopts a resolution allowing the district to temporarily borrow between eligible district funds, as needed, for cash-flow purposes during fiscal year 2020-21. The borrowed money must be repaid, under Education Code Section 42603. No dollar amount is stated.

Plain-English summary written by AI from the official text. AI summary · amounts checked against official text

Action: Resolution or policy
Category: Budget, finance & payments
Term: Jul 1, 2020 – Jun 30, 2021
Presented by: Chief Financial Officer
File: 20-1422 · agenda P.-8
Outcome: Adopted on the General Consent Report, Aug 12, 2020

Official text

Approval by the Board of Education of Resolution No. 2021-0004 - Temporary Borrowing Between [District] Funds for Fiscal Year 2020-2021, as needed, for cash-flow purposes, among eligible funds of the District, and the repayment of such temporary borrowed funds, pursuant to Education Code Section 42603.

History

Aug 12, 2020 Adopted on the General Consent Report

This is an independent project created to provide transparency to the OUSD Community, and is not affiliated with Oakland Unified District. All data used to create the Consent Report Tracker is made public by Legistar, OUSD's official platform for posting legislative records. Plain-English summaries are written by AI with narrow parameters based upon the official text of the reports. Read about how all this works.