Item Coversheet
AGENDA - June 7, 2018

8.0

BUSINESS AND FISCAL MANAGEMENT

8.1  Resolution to Approve Transfer of Funds Into PARS Irrevocable Trust  (Reports)
 

Background Information:

During the Board's regularly scheduled meetings on October 19, November 16, and December 14, 2017, the Board considered and subsequently acted to adopt and create an irrevocable trust account for the purposes of pre-funding pension obligations and/or OPEB obligations in response to increases in employer contributions to employee retirement programs CalSTRS and CalPERS. 

 

This DRAFT resolution may result in a future action by the Governing Board to make a contribution into the irrevocable trust adopted previously in this school year.  

Reports:
The attached resolution outlines the rationale and amount for the proposed transfer. 
Financial Impact:
There is no fiscal impact of this first reading.  This DRAFT resolution may result in a future action by the Governing Board to make a contribution into the irrevocable trust adopted previously in this school year.  
Superintendent's Recommendation:
That the Board consider this the contents of this resolution and provide input for future consideration or action. 
Moved________________________________Seconded_______________________________


Ayes__________Noes____________Absent_________Abstain________Student___________


ATTACHMENTS:
DescriptionUpload DateTypeFile Name
DRAFT Resolution - Irrevocable Trust5/29/2018ExhibitResolution_-_Irrevocable_Trust_-_6.7.18_-_DRAFT.docx