Mountain View Whisman School District

Agenda Item for Board Meeting of 5/7/2020

Agenda Category:  REVIEW AND ACTION

Agenda Item Title:  Resolution No.01-050720 to Establish a Fund for Measure T Funds (5 minutes)

Estimated Time: 

Person Responsible:  Rebecca Westover, Ed.D., Chief Business Officer

Background: 
The voters of the Mountain View Whisman School District community passed Measure T in the March 2020, a general obligation bond measure, to finance the construction of school district facilities.  The California School Accounting Manual (CSAM) specifies that a Building Fund should be used to account separately for the proceeds from the sale of the bonds and related authorized expenditures.

Fiscal Implication:
None.

Recommended Action: 
That the Board of Trustees approve Resolution No. 01-050720 to Establish a Fund for Measure T Funds.