|
|
|
|
|
|
|
|
|
Meeting Date:
|
5/24/2018 - 7:00 PM
|
|
Category:
|
Old Business and Action Items
|
|
Type:
|
Info
|
|
Subject:
|
Quarterly CIP Reserve Status Update and Budget Transfer Request
|
|
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.
|
|
Funding Source or Fiscal Impact (where applicable)
|
|
|
File Attachment:
|
|
|
Agenda Item Summary:
|
A transfer is recommended from the CIP Reserve Account totaling $218,361.95 to support the George Washington Middle School Kitchen/Cafeteria Renovation project. This would leave a balance of $903,129.32 in the CIP Reserve Account.
The George Washington Kitchen/Cafeteria Renovation project has been developed in close communication with the Nutritional Services Department, which has provided the majority of the funding for the project through the School Nutrition Services Surplus Fund Balance. Portions of the project that are prohibited from being funded with fund balance money (such as code required HVAC infrastructure improvements) are to be covered through CIP funding.
|
|
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 will provide recommendations to the School Board on moving funding in and out of the CIP Reserve Account.
The CIP Reserve Account currently has a balance of $1,121,491.27 remaining from previously approved transfers.
|
|
Recommendation:
|
The Superintendent recommends that the School Board approve this budget transfer request totaling $218,361.95 from the CIP Reserve Account to the George Washington Middle School Kitchen/ Cafeteria Renovation project.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Mike Herbstman - Chief Financial Officer
|
|
|
Signed By:
|
|
|
Mignon Anthony - Chief Operating Officer
|
|
|
Signed By:
|
|
|
Lois Berlin -
|
|
|
|
|
|
|
|
|