Item
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Business Services
Item |
| DATE: | Tuesday, September 22, 2020 |
| TO: | School Board Members |
| FROM: | Addison Davis, Superintendent |
| SUBJECT / RECOMMENDATIONS | |
| <p>Authorize the Superintendent to Establish a $100,000,000 Line of Credit (LOC) in Fiscal Year (FY) 2020/2021 with Wells Fargo Bank, N.A., in the Event of Any Operational Cash Flow Deficits <em>(Finance Division)</em></p> | |
| EXECUTIVE SUMMARY | |
| <p>As authorized by Florida Statute 1011.13, an LOC or Tax Anticipation Note may be established to fund any operational cash shortfall experienced by the district. An LOC has been authorized each fiscal year since FY 1986/1987, but never utilized.</p> | |
| STRATEGIC OBJECTIVES | |
| <p>• Establish a strong foundation of financial stewardship</p> | |
| FINANCIAL IMPACT (Budgeted: No) | |
| EVALUATION | |
| SUBMITTED BY: Steve Brady, Budget Department Manager, Services & Support, steve.brady@sdhc.k12.fl.us, (813) 272-4347 | |
| Gretchen Saunders | ||
| Chief Financial Officer (813) 272-4270 |
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| B 6.02 | ||
| Hillsborough County Public Schools (Florida) * Mtg.#20200922_1010 (Board Meeting) * Section B Item# 6.02 | ||