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Meeting Date:
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2/2/2023 - 6:30 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 2023 CIP Budget Reserve Report for Q2
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ACPS 2025 Strategic Plan Goal:
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Goal 1: Systemic Alignment ACPS will build a culture of continuous improvement and design equitable systems for school and instructional improvement. Goal 4: Strategic Resource Allocation ACPS will strategically provide differentiated resources and supports to schools and departments. Goal 5: Family and Community Engagement ACPS will ensure that all families and community members feel welcomed, respected, and valued.
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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 #1 is the “CIP Reserve Tracker” that outlines movement in and out of the CIP reserve account. Attachment #2 is the “Funding Sources” list that shows which projects 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 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.
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Recommendation:
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The Superintendent recommends that the School Board review this current account balance and considers future CIP Reserve Account transactions.
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Approvals:
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Recommended By:
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Signed By:
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Dr. Alicia Hart - Chief Operating Officer
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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. Melanie Kay-Wyatt - Interim Superintendent
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