|
|
|
|
|
|
|
|
|
Meeting Date:
|
4/26/2018 - 7:00 PM
|
|
Category:
|
Consent Calendar
|
|
Type:
|
Action
|
|
Subject:
|
Budget Transfers to the CIP Reserve Account
|
|
ACPS 2025 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.
|
|
Funding Source or Fiscal Impact (where applicable)
|
|
|
File Attachment:
|
|
|
Agenda Item Summary:
|
The Office of Educational Facilities is recommending the removal of the building generator system projects scheduled for installation in various schools in 2018. Upon further review of the proposed generator projects after the installation of notification technology to detect the degredation of temperature levels by the Office of Food and Nutrition Services, we recommend transferring $863,500 in funds to the CIP Reserve Account from school projects outlined in the attached memo. Following this recommended transfer, the CIP Reserve Account balance would increase to $1,121,492.
|
|
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.
As necessary, on at least a quarterly basis, ACPS staff provides recommendations to the School Board to move funding in and out of the CIP Reserve Account.
Prior to this recommended transfer, the CIP Reserve Account has a balance of $257,992 from previously-approved transfers to and from the account.
|
|
Recommendation:
|
The Superintendent recommends that the School Board approves this budget transfer request totaling $863,500 from auxiliary electrical power supply projects at various schools to the CIP Reserve Account.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Mignon Anthony - Chief Operating Officer
|
|
|
Signed By:
|
|
|
Mike Herbstman - Chief Financial Officer
|
|
|
Signed By:
|
|
|
Lois Berlin -
|
|
|
|
|
Vote Results:
|
| Original Motion | | Member William E. Campbell Moved, Member Cindy Anderson seconded to approve the Original motion 'The Superintendent recommends that the School Board approves this budget transfer request totaling $863,500 from auxiliary electrical power supply projects at various schools to the CIP Reserve Account.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 9 Nay: 0. | | The motion Carried 9 - 0 | | | | | Ronnie Campbell | Yes | | William E. Campbell | Yes | | Karen Graf | Yes | | Christopher J. Lewis | Yes | | Ramee A. Gentry | Yes | | Henry E. Cardwell | Yes | | Margaret Lorber | Yes | | Cindy Anderson | Yes | | Veronica R. Nolan | Yes | |
|
|
|
|
|
|
|