School board looks at finances; special meeting April 20
By Roni Java
Special to Feather Publishing, Inc.
All five trustees of Plumas Unified School District’s (PUSD) Governing Board met virtually April 15 with help from the cloud-based videoconferencing program Zoom.
Board President Leslie Edlund convened the online meeting that included administrators and fellow trustees Joleen Cline, Dave Keller, Dwight Pierson and Clerk of the Board Traci Holt.
Proactive financial vote
The main item on the agenda was a request to authorize Resolution 1575, a $5 million Tax Revenue Anticipation Note (TRAN), which is an instrument that, if issued, would help PUSD manage its cash flow into 2021.
The California Government Code permits school districts, community college districts and county boards of education to borrow money, as necessary, through temporary notes such as TRANs.
The trustees voted 5-0 to approve the authorization.
Explaining PUSD’s position as a Basic Aid school district, compared to its prior designation under the Local Control Funding Formula, Deputy Superintendent for Business Services Lisa Cavin referenced the COVID-19 pandemic’s school closure requirements and said this has created unanticipated impacts.
Cavin advised the board that the timing of cash payments does not align with the district’s cash flow needs.
“Cash flow is becoming more of a need as we’re spending down (into our) reserves,” Cavin said. “This TRAN authorization is just a request to put it in place if it is needed.”
Board members were advised Resolution 1575 was before them because there may be a need for additional funds intermittently throughout the year, between tax payments from the county and funding from the state. Cavin told the trustees PUSD will use its options for inter-fund transfers first.
Cavin’s presentation also informed the trustees the soonest the TRAN might be accessed would be July and adoption of the resolution does not obligate the district to use a tax revenue anticipation note, “but it provides a safety net if needed.”
Distance learning and grades
In other business, the school board heard a brief presentation from Plumas County Teachers Association (PCTA) representatives Suzanne Stirling and Yvonne Cassalnuovo.
The educators said PCTA plans to submit a memorandum of understanding to the board. They also mentioned addressing needs for student grading.
PUSD will hold a virtual special school board meeting via Zoom at 4 p.m. on April 20 at which time the district will talk about its distance learning plan and grading.