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Board approves Measure B2 budget adjustments to cover rising construction costs and reallocate carryover funds
Summary
Trustees approved staff recommendations to reallocate Measure B2 funds and use part of the program reserve after the district realized higher interest income and greater-than-expected carryover expenditures; adjustments cover gym/locker modernization, VAPA/TE classroom work, and site security fencing.
San Rafael City Schools trustees approved budget adjustments May 19 for the Measure B2 high school district program after staff reported higher interest income and the need to align project budgets with contracts and increased construction costs.
Bill Savage of the district’s construction management team said the district had realized substantially higher interest income on bond funds held with the county and that some earlier carryover from the 2015 bond was consumed to complete outstanding…
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