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Board increases contingency for T.M. Clark Elementary bond project, authorizes General Fund use
Summary
The Board approved raising the Owner's Contingency for the Bond 2023 T.M. Clark Elementary School project from $1,252,342 to $2,252,342 and authorized budget amendments including use of General Fund balance; vote 7–0.
The Board voted to increase the Owner's Contingency for the Bond 2023 T.M. Clark Elementary School project from $1,252,342 (2.59% of the original GMP) to $2,252,342 (4.56% of the updated GMP) and authorized necessary budget amendments, including the use of General Fund balance to support the increase. Mark Roach made the motion; Nicole Nolen seconded and the motion carried 7–0.
Administration framed the change as necessary for schedule and completion risk mitigation on the new elementary project. The Board’s approval increases the contingency line item and directs budget adjustments to fund the change.
