Item Coversheet
ITEM TITLE:Notification and Approval of a Request to Increase TEC's Capital Reserve Limit
DATE:10/3/2022
ITEM TYPE:Discussion
ITEM SUMMARY:
Dear TEC Superintendents and Board Members,
At the TEC Board meeting today (9/23/22) a request to increase TEC's Capital Reserve limit from $350,000 to $750,000 was presented to the Board. 
Attached is the overview and rationale for this request which was discussed and supported by the TEC Budget Subcommittee.
 
The next step in the process is to share this request with all TEC School Committees.  
 
Please note, this does NOT require a School Committee vote and no action is required other than sharing this information with your School Committee. 
A vote would only be required if your School Committee does NOT want to approve this request.
 
BACKGROUND INFORMATION:
RECOMMENDATION:Move approval to approve a request to increase TEC's Capital Reserve limit from $350,000 to $750,000
ATTACHMENTS:
DescriptionFile NameType
Capital Reserve Limit1c_Capital_Reserve_Limit.pdfCover Memo