J.O. Combs Special Board Meeting 12/17/2025

The J.O. Combs Unified School District held a special board meeting on December 17, 2025, primarily to discuss and approve a financial procurement action related to cash flow management. The board considered and approved a resolution to establish a line of credit with Wells Fargo Bank for up to $1.5 million. This line of credit is intended to bridge timing gaps between state aid payments and the district's payroll and accounts payable obligations, particularly during months when payment processing delays occur. The interest rate on the line of credit is 6.75%, with the district planning to minimize interest costs by repaying any borrowed amounts promptly. The board voted unanimously to approve the borrowing request, ensuring the district has a financial cushion to maintain timely payments to vendors and staff without impacting the overall budget.