Agenda Item
Meeting Date:
5/1/2025 - 6:00 PM  
Category:
Reorganization Action Items  
Type:
Action  
Subject:
10.8 Resolution - Cash Management Plan FY 2025-2026  
Strategic Plans:
Priority 1.2
1.2 Adopt a sustainable fiscal strategy and operating budget that is aligned with the strategic plan and drives district priorities.
 
Enclosure:
Resolution - Cash Management Plan FY 2025-2026  
File Attachment:
CASH MANAGEMENT PLAN 2025-2026.pdf
 
Summary:
WHEREAS, the Newark Board of Education desires to invest its unused funds with safety and liquidity of such funds. The School District is authorized pursuant to NJSA 18A:20-37 (8) the “Investment Statute” to purchase various securities and participate in various investment programs.  
Funding :
NOW THEREFORE, BE IT RESOLVED, that the Newark Board of Education adopts the cash management plan pursuant to NJSA 18A:20-37.  
Recommendation to the Board
BE IT FURTHER RESOLVED, that this plan is in effect until June 30, 2026 and reviewed and approved on an annual basis thereafter.  
Approvals:
Recommended By:
Signed By:
Brittany Rankins - Clerk 3
Signed By:  
Pablo Canela - Executive Controller
Signed By:  
Valerie Wilson - School Business Administrator
Signed By:  
Roger León - Superintendent
 
Vote Results:

Original Motion
Member Helena Vinhas Moved, Member Josephine Garcia seconded to approve the Original motion 'BE IT FURTHER RESOLVED, that this plan is in effect until June 30, 2026 and reviewed and approved on an annual basis thereafter.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 8 Nay: 0.
The motion Carried 8 - 0
   
Louis Maisonave, Jr.     Yes
David I. Daughety     Yes
Helena Vinhas     Yes
Kanileah Anderson     Yes
Allison K. James-Frison     Yes
Vereliz Santana     Yes
Josephine Garcia     Yes
Hasani Council     Yes