Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Funding topic
No spam. Unsubscribe anytime.
Finance committee backs plan to replenish capital reserve with $9M transfer from general fund
Summary
Staff proposed transferring about $9 million from the general fund into Fund 32 (capital reserve) to replenish capital resources after recent roof and HVAC spending; district staff said the transfer is consistent with the multi‑year capital plan and will not endanger the district’s AAA rating.
District finance staff told the committee they plan to transfer approximately $9,000,000 from the general fund to the capital reserve (Fund 32) as part of year‑end fund‑balance commitments. The funds would replenish capital resources spent on recent projects such as the high school roof and HVAC work and would leave the district with a healthy general‑fund balance, staff said.
Staff noted the district had held roughly $17,000,000 in the general fund for foreseeable capital needs and that outlays this year (about $12,000,000 spent from Fund 32) have drawn that down. A previously awarded DCED grant of just over $2.5 million is reimbursement‑based and the cash is expected when projects are completed.
Committee members asked for clearer consolidated pages showing Fund 10 (operating) and Fund 32 (capital) flows; staff agreed and said they will present combined summaries to help follow the transfers and commitments. The committee did not take a formal vote in the excerpt; staff said transfers will follow audit completion and standard board approval steps.
