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Meeting Date:
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1/8/2024 - 6:00 PM
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Category:
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Business Services
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Type:
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Action
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Subject:
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Accept and approve the transfer of excess funds from B&A Activity Fund 72 to General Fund (11). D. Dollahon
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Enclosure
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File Attachment:
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Summary:
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B&A Activity Fund 72 has an investment of $1,500,000.00 maturing on January 18, 2024. Oklahoma State Statute 70-5-129 states, "The Board of Education may direct any balance in excess of the amount needed to fulfill the function or purpose for which an account was established may be transferred to another account."
When this investment is liquidated, Fund 72 will have an approximate balance of $3,300,000.00, which will leave B&A with an excess of funds needed to operate the program. It is requested that the Board of Education approve the principal and interest from the maturing investment be transferred and deposited into General Fund 11.
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Funding:
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Not Applicable
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Recommendation:
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Approve
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Approvals:
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Recommended By:
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Signed By:
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Marsha Janey - Administrative Assistant
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Signed By:
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Natalie Eneff - Chief Financial Officer
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Signed By:
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Chuck Perry - Superintendent
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Vote Results:
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| Original Motion | | Member Jerry Denton Moved, Member John Cockrell seconded to approve the Original motion 'Approve'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Jerry Denton | Yes | | Steve Allen | Yes | | John Cockrell | Yes | | Brandy Roulet | Yes | | Debbie Taylor | Yes | |
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