Agenda Item
Meeting Date: 6/6/2019 - 7:00 PM
Category: Consent Calendar
Type: Action
Subject: CIP Reserve Account Transfer: JH HVAC Project Transfer
ACPS 2020 Strategic Plan Goal:
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: DA - Management of Funds
Funding Source or Fiscal Impact (where applicable):
File Attachment:
190606_MEMO_FH_&_MM_to_JH_HVAC_Project_Transfer .v3.pdf
Agenda Item Summary: Two funding transfers are requested in order to begin the repair efforts on the Jefferson-Houston (JH) HVAC immediately upon the end of the school year. The transfer request from the Francis Hammond Exterior Insulation Finishing System (EIFS) Project account totals $885,875.00 and the transfer from the Matthew Maury Roof Project account totals $1,000,000.00. These transfers do not impact any current work on the two projects and replacement of funds to those accounts for planned work will be aligned with the FY2020 and FY2021 CIP budget allocations.
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 a two-step process.
Recommendation: The Superintendent recommends that the School Board approve this budget transfer request totaling $1,885,875.00 from the Francis Hammond Exterior Insulation Finishing System (EIFS) Project and Matthew Maury Roof Project accounts for the Jefferson-Houston HVAC repairs.
Approvals:
Recommended By:
Signed By:
Veronica Tellez - Executive Assistant
Signed By:
Gregory Hutchings - Superintendent
Vote Results:

Original Motion
Member Ramee A. Gentry Moved, Member Christopher A. Suarez seconded to approve the Original motion 'The Superintendent recommends that the School Board approve this budget transfer request totaling $1,885,875.00 from the Francis Hammond Exterior Insulation Finishing System (EIFS) Project and Matthew Maury Roof Project accounts for the Jefferson-Houston HVAC repairs.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 9 Nay: 0.
The motion Carried 9 - 0
   
Ramee A. Gentry     Yes
Margaret Lorber     Yes
Cindy Anderson     Yes
Veronica R. Nolan     Yes
Meagan L. Alderton     Yes
Christopher A. Suarez     Yes
Jacinta Greene     Yes
Michelle Rief     Yes
Heather Thornton     Yes