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Meeting Date:
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10/15/2020 - 4:00 PM
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Category:
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New Business and Reports to the Board
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Type:
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Info
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Subject:
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FY 2020 CIP Reserve Account Update for Qtr 4--5 mins.
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ACPS 2025 Strategic Plan Goal:
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Goal 4: Strategic Resource Allocation ACPS will strategically provide differentiated resources and supports to schools and departments.
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Funding Source or Fiscal Impact (where applicable)
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File Attachment:
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Agenda Item Summary:
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The CIP Reserve Account balance is $235,759.77. Attachment #2 (Funding Sources of the CIP Reserve Account) outlines the account sources that contribute to the current reserve balance.
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Background:
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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.
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Recommendation:
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The Superintendent recommends that the School Board review the current CIP Reserve account balance.
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Approvals:
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Recommended By:
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Signed By:
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Dr. Alicia Hart - Executive Director of Facilities and Operations
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Signed By:
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Dominic Turner - Chief Financial Officer
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Signed By:
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Dr. Gregory C. Hutchings, Jr. - Superintendent
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