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Meeting Date:
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10/31/2019 - 6:30 PM
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Category:
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Reports and Communications from the Board Clerk/Chief Officer, Office of Board Governance
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Type:
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Action
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Subject:
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1. Action on the Adoption of the Adjusted 2019-20 (FY20) Budget for the Construction Fund
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Strategic Plan Compatibility Statement:
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Goal 3 Effective and Efficient Operations
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Attachments
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Construction Fund Budgetary Resolution
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File Attachment:
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Background:
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At its special meeting on October 29, 2019, the Board adopted adjustments to the adopted FY20 budget as well as recommended organizational adjustments. Since the institution of revenue limits, it has been routine to amend the district's annual budget at this point in the fiscal year in order to adjust projections to actual revenue and enrollment.
The Board's action, which passed on a 5-4 vote, included adjustments to the School Operations, Extension, and Construction Funds. Board Rule 1.14(3)(g), however, states that a recorded affirmative vote of two-thirds of the Board’s membership (six of the nine members) shall be necessary to request tax funds or the sale of bonds for the purpose of school construction.
The Chief Officer of the Office of Board Governance is bringing the resolution regarding the Construction Fund's budget forward at this time to seek the required approval of two-thirds of the Board's membership.
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Fiscal Impact Statement:
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Implementation and Assessment Plan
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Upon the adoption of the resolution regarding the Construction Fund's budget by an affirmative vote of at least two-thirds of the Board, the Office of Board Governance will transmit the budget resolutions to the Common Council of the City of Milwaukee for adoption as prescribed by State Statutes 119.46 and 119.48, prior to the adoption of the City's budget in November 2019.
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Recommendation:
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That the Board adopt the adjustments to the FY20 Construction Fund, as presented in the attachments.
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Approvals:
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Recommended By:
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Signed By:
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Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer
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