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Meeting Date:
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6/26/2023 - 5:30 PM
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Category:
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New Business
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Type:
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Action
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Subject:
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Inter-Fund Transfer Between General (Incidental) Fund and Special Revenue (Teachers) Fund
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Board Goals:
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4. Financial Responsibility i. Maintain a healthy Operational Fund ii. Identify Partners to support schools and programs iii. Facility Management and Capital Improvement Program iv. Compare and compete with similar school districts
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Enclosure
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File Attachment:
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Background & Rationale:
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The Board of Education must approve inter-fund transfers per Section 165.011, RSMo. The Special Revenue (Teachers) Fund is used to account for revenue sources legally restricted to expenditures for the purpose of teachers' salaries and benefits and tuition payments to other school districts.
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Budget to be Charged:
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Motion:
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I move that the Board of Education approve the transfer of funds from the General (Incidental) Fund to the Special Revenue (Teachers) Fund to cover all expenditures that are not covered by another source of revenue (per RSMo 165.111) in that Fund in an amount not to exceed $10,000,000.00.
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Approvals:
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Recommended By:
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Signed By:
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Jacqui Vernon - Director of Finance Operations
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Signed By:
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Terry Gibson - Chief Executive Finance & Operations Officer
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Signed By:
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Penelope Martin-Knox - Superintendent
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