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Committee reviews increases to summer learning fund, PERS transfer and capital projects
Summary
Staff reported fund 211 (summer learning) increased to $227,000, a planned $200,000 transfer from the PERS reserve, and capital projects budget set at $1.2M split across three subfunds.
Denise explained adjustments to special revenue funds and the PERS reserve: fund 211 for summer learning was increased to $227,000, and the PERS reserve (fund 290) will see a $200,000 transfer out, with staff noting the projected $750,000 reserve balance will be realized next year.
Denise also walked the committee through debt service and capital projects: three debt service funds total about $3.298 million, including PERS bonds around $2.3 million and a general obligation bond payment near $930,000 for the GIB building. The capital projects fund was listed at $1.2 million (regular capital $800k, facility improvement $100k, transportation $300k).
