Item Coversheet


June  24, 2019


Board Item - Q.-1.
Issue:

Annual Resolution No. 2487.



Superintendent's Recommendation:

Adopt Resolution No. 2487, Resolution of Governing Board of the Sweetwater Union High School District Requesting Temporary Transfer of Funds from Property Taxes.

Analysis:

This Resolution requests the temporary transfer of funds by the Board of Supervisors of the County of San Diego.  The California Constitution, Article XVI, Section 6, and Education Code Section 42620 or 85220, provide that the Treasurer of the County of San Diego shall have the power and it shall be his duty to make such temporary transfer from the funds in his custody as may be necessary to provide funds for meeting the obligations incurred for maintenance purposes by any district whose funds are in his custody and are paid out solely through his office; such temporary transfer of funds shall be made only upon resolution adopted by the governing board of the county to make such temporary transfer; such temporary transfer of funds shall not exceed 85 percent of anticipated revenue accruing to the district, shall not be made prior to the first day of the fiscal year nor after the last Monday in April of the current fiscal year, and shall be replaced from the revenues accruing to such district before any other obligation of the district.

 

Because the County of San Diego requires the district provide them with this resolution in a certain format, staff has attached two versions, the district resolution in standard format, and the county resolution in the county's standard format.  Additionally provided is the San Diego County Temporary Transfer Agreement which accompanies the resolution.

 

This Board Agenda Item supports LCAP Goal 4, coherent and transparent systems, because it provides information on the authorization for temporary transfer of funds for operating cash flow purposes.

 

For questions regarding this board item, please contact Jenny Salkeld at (619) 691-5550 or Jenny.salkeld@sweetwaterschools.org.



Fiscal Impact:

None.
ATTACHMENTS:
DescriptionType
District Resolution No. 2487Resolution Letter
County of San Diego Agreement & ResolutionBackup Material
18. Formation & Approval of Consent Agenda - AUDIO CLIP - 06 24 19Cover Memo