Review Agenda Item
Meeting Date: 10/7/2021 - 6:30 PM
Category: New Business and Reports to the Board
Type: Info/Action
Subject: FY22 Q1 Quarterly CIP Reserve Update
ACPS 2025 Strategic Plan Goal:
Goal 4: Strategic Resource Allocation
ACPS will strategically provide differentiated resources and supports to schools and departments.
Policy: FEG-R - ACPS Capital Improvement Program Regulations
Funding Source or Fiscal Impact (where applicable)
File Attachment:
211007_Memo_CIP_Reserve_Balance_Update_FY22_Q1.pdf
211007_Attachment1_CIP_Reserve_Account_Tracker_Q1 FY22.pdf
211007_Attachment2_CIP_Reserve_Funding_Sources_Q1 FY22.pdf
Agenda Item Summary: 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.
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 based upon justifications of need. On at least a quarterly basis, ACPS staff updates the School Board on the current account balance and, when necessary, provides recommendations to the School Board to move funding into and out of the CIP Reserve Account

The CIP Reserve Account currently has a balance of $235,759.77. Attachment #1 (CIP Reserve Account Tracker) outlines all of the Board-approved budget transfers that have led to this current balance.
Recommendation: The Superintendent recommends that the School Board review and accept the current CIP Reserve account balance.
Approvals:
Recommended By:
Signed By:
Dr. Alicia Hart - Executive Director of Facilities and Operations
Signed By:
Dominic Turner - Chief Financial Officer
Signed By:
Dr. Gregory C. Hutchings, Jr. - Superintendent
Vote Results:

Original Motion
Member Ramee A. Gentry Moved, Member Jacinta Greene seconded to approve the Original motion 'The Superintendent recommends that the School Board review and accept the current CIP Reserve account balance.'. 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
Dr. Michelle Rief     Yes
Heather Thornton     Yes