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Business official flags tight capital fund and rising construction costs for planned classroom project
Summary
John Livingston told the board the district has spent roughly 75% of its operating budget for the year, has a constrained capital fund, and that contractor estimates for a planned 9,200-square-foot building have jumped from roughly $335/sq ft to over $500/sq ft, potentially raising the project cost well above earlier state estimates.
John Livingston presented the March month-end financials and cautioned the board about capital constraints and rising construction costs.
Livingston said the operating fund budget is $19.3 million with $14.4 million spent (about 75% of the year and of the budget). He described the capital fund 620 as tight…
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