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District to seek transfer of $3 million DCED award toward stadium project; board to review resolution
Summary
Superintendent and board discussed using a $3 million DCED allocation originally for an academy project as a local match for the multisports stadium; administrators said the transfer requires state approval and additional documentation with county commissioners.
District administrators told the board they intend to pursue a resolution to repurpose a $3,000,000 DCED award originally tied to an academy project and use it as local match funding for the multisports stadium project.
An administrator said the academy project has been halted and the district does not want to return the DCED funds. “We wanna utilize that $3,000,000 and not give it back to the state,” the presenter said, describing a plan to create a new assigned fund balance and move the DCED money into the stadium project account once approvals and documentation are in place.
Administrators said the district already has $3,000,000 set aside in a capital assigned fund balance and would create accounting entries to show the intended use. The presenter said the process requires “a couple extra hoops” and coordination with county commissioners; commissioners reportedly want the money used toward the academy but discussions are ongoing.
Board members raised practical questions about whether the funds would remain on the district’s books until the project is ready or be transferred to the academy. The administration said the money could remain on the district balance sheet as an assigned fund balance until an academy project is defined or the cash could be transferred to the academy if a future board vote authorized that transfer.
No final resolution was adopted at the meeting. Administrators told the board the item will appear on the July agenda with paperwork and recommended language, and that additional approvals from the state and county may be required before any reallocation occurs.
