G.-3 20-1264 Approval by the Board of Education, upon recommendation of the Budget and Finance Committee, of Resolution No. 1920-0258 - Requesting Temporary Transfer of Funds In An Amount Not To Exceed $30 Million Dollars From The Alameda County Treasury Due To Fluctuation In District Revenue And Receipts For Fiscal Year 2020-2021.
I understand the need for this authorization as a backup plan. At the same time, it is disappointing that it is not presented with an estimate of cost or a sample coast sheet. I am glad to see that the B&F committee must still authorize the borrowing, and hope that will be a last resort and that OUSD will use interest free internal borrowing (from balances or other funds) to the maximum extent possible.
I understand the need for this authorization as a backup plan. At the same time, it is disappointing that it is not presented with an estimate of cost or a sample coast sheet. I am glad to see that the B&F committee must still authorize the borrowing, and hope that will be a last resort and that OUSD will use interest free internal borrowing (from balances or other funds) to the maximum extent possible.