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Staff notifies board of plan to use remaining 2022B funds for LHS turf project
Summary
Staff told trustees the district plans to move roughly $558,000 of under-budget 2022B bond project funds, plus available interest, into a 2024B account to pay for Lexington High School turf replacement.
District staff notified trustees that the district will reallocate remaining under-budget funds and interest from the 2022B capital project account to help pay for the Lexington High School turf project.
Mister Clark Cooper told the board the district planned to move just over $512,000 in under-budget closed-project funds plus about $45,000 in remaining interest from the 2022B capital account into the 2024B account to partially pay for the LHS turf project, allowing the district to use the 2022B money before it expires.
"We are going to use the remaining amount, the under budget closed projects, just over 512,000. And also the remaining available interest, just over 45,000 of the 22 b, capital, project, account. We're gonna use that to partially pay for the LHS, turf project," Cooper said.
Board members asked whether the transfer would effectively close out the 2022B account; Cooper said the transfer would "virtually close out '22 b" though small residual amounts would remain in a few projects.
Trustees also asked about the cost and schedule for the LHS turf project; staff said earlier site work is in progress and estimated the total cost from memory at about $1.4 million and that field installation typically takes about eight weeks depending on scope, with some projects taking as little as four weeks.
Ending: Staff said they will reallocate the identified 2022B funds before the grant/account expiration and will continue work on the LHS turf schedule and the district's broader turf program.
