Agenda Item
Meeting Date: 6/7/2018 - 7:00 PM
Category: New Business and Reports to the Board
Type: Info
Subject: Budget Transfer from the CIP Reserve Account to Support the Jefferson Houston Infrastructure Repair Project
Strategic Plan:
Objective 4.1 Optimal Learning Environments and Infrastructure
In collaboration with City partners, ACPS will move aggressively to modernize all learning environments, expand or otherwise adapt facilities to meet projected changes in school enrollment, and ensure equitable application of capital improvements throughout the school division.
Objective 6.1 Fiscal Policies and Practices
ACPS will plan, manage, monitor, and report spending to provide decision-makers and the community with a reliable, accurate, and complete view of the financial performance of the educational system at all levels.
Policy: FEG-R - ACPS Capital Improvement Program Regulations
Funding Source or Fiscal Impact (where applicable):
File Attachment:
180607_MEMO_JH-Piping Funds Transfer_v8.pdf
Agenda Item Summary: A transfer is recommended from the CIP Reserve Account totaling $150,000 to support a comprehensive mechanical infrastructure analysis of the Jefferson Houston Pre-K to 8 School. This would leave a balance of $753,129.32 in the CIP Reserve Account.
Background: On December 7, 2017, the School Board authorized the establishment of a Capital Improvement Program (CIP) Reserve Account which provides an additional option for CIP budget transfers. This reserve account allows the School Board to move budgeted funds between capital accounts through the below two-step process:

1. The School Board approves budget transfers from specific project account lines to the CIP Reserve Account.
2. The School Board later approves budget transfers from the CIP Reserve Account back to other specific project account lines based upon justifications of need.

On at least a quarterly basis, ACPS staff provides recommendations to the School Board to move funding into and out of the CIP Reserve Account, as required.

The CIP Reserve Account currently has a balance of $1,121,491.27 remaining from prior approved transfers. A separate transfer has been proposed to the School Board for action during tonight’s meeting. That recommended transfer would move $218,361.95 from the CIP Reserve to an HVAC account in support of the George Washington Middle School Kitchen/Cafeteria Renovation. If the Board approves that transfer to George Washington, $903,129.32 will remain in the CIP Reserve Account prior to the transfer proposed in this memo.
Recommendation: The Superintendent recommends that the School Board approve this budget transfer request totaling $150,000.00 from the CIP Reserve Account to the Jefferson Houston infrastructure repair project.
Approvals:
Recommended By:
Signed By:
Mike Herbstman - Chief Financial Officer
Signed By:
Mignon Anthony - Chief Operations Officer
Signed By:
Lois Berlin - Interim Superintendent