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Meeting Date:
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3/8/2018 - 7:00 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/Action
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Subject:
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Budget Transfers to the CIP Reserve Account
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ACPS 2025 Strategic Plan Goal:
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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.
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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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In accordance with school board policy FEG and the associated regulations pertaining to the management of CIP funds, a transfer is recommended from various projects to the CIP Reserve Account totaling $505,277.
Following this recommended transfer, the CIP Reserve Account balance would increase to $763,269.
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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 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 any transfers recommended on March 8, 2018, the CIP Reserve Account has a balance of $257,992 from previously-approved transfers to the account.
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Recommendation:
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The Superintendent recommends that the School Board approve this budget transfer request totaling $505,277 request from various projects to the CIP Reserve Account.
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Approvals:
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Recommended By:
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Signed By:
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Lois Berlin -
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Vote Results:
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| Original Motion | | Member William E. Campbell Moved, Member Christopher J. Lewis seconded to approve the Original motion 'The Superintendent recommends that the School Board approve this budget transfer request totaling $505,277 request from various projects to the CIP Reserve Account.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 8 Nay: 0. | | The motion Carried 8 - 0 | | | | | 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 | |
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