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CFO proposes building-and-land fund, pledges 25% of capital outlay revenue to facilities
Summary
Rapid City Area School District finance staff recommended creating a dedicated building-and-land subfund and directing 25% of ongoing capital outlay revenue to direct facility projects, with roughly 35% capacity earmarked for future debt service.
Chief Financial Officer Koi Sassy presented the Rapid City Area School District board with a proposed long-range approach to capital outlay budgeting intended to align facility spending with the district's strategic and master plans.
Sassy said finance and facilities committee discussions led to three recommended guidelines for fiscal year 2026 budgeting: dedicate 25% of ongoing capital outlay revenue annually to direct facility projects; earmark approximately 35% of capital outlay revenue capacity for future debt service; and…
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