6180.03 - TEMPORARY TRANSFER OF SALES SURTAX CASH BETWEEN GROUPS

1. Should the occasion arise where cash flow is not available to fund a high priority project in one group but is available in another group, the Board may authorize a temporary transfer of available cash between the groups.
2. A temporary transfer may be considered based on the following criteria:
    
   1. The transfer will allow the District to take advantage of savings that may occur from matching grants, favorable pricing, or other circumstance that results from accelerating the sales surtax investment in this group.
   2. The transfer will accelerate the funding for a high priority program or a high priority component or system failure.
   3. The total resources available to a group cannot exceed that group’s maximum sales surtax allocation plus their share of the contingency, limiting the transfer amount to the difference between the resources received to date and the maximum total allocation.
3. The temporary transfer of funds will be processed in accordance with AP 6180.03 - Temporary Transfer of Sale Surtax Between Groups.
4. This policy only applies to temporary transfers of sales surtax funds. Any modification to the percentage allocation of funds across groups requires Board authorization.

Revised 12/15/20
Reviewed 4/25/23

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