Agenda Item
Meeting Date: 10/10/2019 - 7:00 PM
Category: New Business and Reports to the Board
Type: Info
Subject: CIP Budget Reserve Report Q4 (5 mins.)
ACPS 2020 Strategic Plan Goal:
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.
Objective 6.3 Operational Efficiency and Performance Management
ACPS will focus resources on student learning by utilizing a comprehensive performance management system that ensures efficient, cost-effective business operations.
Policy: FEG-R - ACPS Capital Improvement Program Regulations
Funding Source or Fiscal Impact (where applicable):
File Attachment:
191010_Memo_CIP_Budget_Reserve_Report_Q4.pdf
191010_Attachment1_CIP_Reserve_Account_Tracker.pdf
191010_Attachment2_CIP_Reserve_Funding_Sources.pdf
Agenda Item Summary: The CIP Reserve Account balance remains unchanged at $682,609.32. Attachment #1 is the “CIP Reserve Tracker” that outlines movement in and out of the CIP reserve account. Attachment #2 is the “Funding Sources” list that shows which projects contribute to the current reserve balance.
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 updates the School Board on the current account balance and, when necessary, provides recommendations to the School Board to move funding into and out of the CIP Reserve Account.
Recommendation: The Superintendent recommends that the School Board review this current account balance and considers future CIP Reserve Account transactions.
Approvals:
Recommended By:
Signed By:
Gregory Hutchings - Superintendent