March 17, 2014
Status:
Approve the attached Capital Funds Budget Amendments for Fiscal Year 2013-2014. These amendments are as of January, 2014.
This amendment is being submitted to adjust revenue and appropriations in the Capital Budget. The major changes reflected in this amendment are summarized below.
Revenues (Exhibit A)
Increase $1.5 million for a legal settlement for construction as approved at the 9/3/2013 School Board Meeting (HH-1)
Appropriations (Exhibit B)
Reclassifications:
* Changes this month in the appropriations summary are only reclassifications and do not change the budgeted amount for any capital projects. The amounts being reclassified are to align with the ongoing activity within the budgeted projects.
Increase:
* Increase $1.5 million for construction settlement placed in the Long Term Reserve
Capital Reserves (Exhibit C)
* There are no changes to the Short Term Reserve between January 1, 2014 and January 31, 2014.
* There is an $11.6 million increase to the Long Term Reserve
. $1.5 million from the legal settlement
. $10.1 million from closing projects and purchase orders
There is no additional financial impact to any capital projects for this agenda as of January, 2014 as indicated on Exhibit B. There is an $11.6 million increase in the Long Term Reserves as described in the Summary Explanation and Background.
Requested Action
Approve the attached Capital Funds Budget Amendments for Fiscal Year 2013-2014. These amendments are as of January, 2014.
Summary
This amendment is being submitted to adjust revenue and appropriations in the Capital Budget. The major changes reflected in this amendment are summarized below.
Revenues (Exhibit A)
Increase $1.5 million for a legal settlement for construction as approved at the 9/3/2013 School Board Meeting (HH-1)
Appropriations (Exhibit B)
Reclassifications:
* Changes this month in the appropriations summary are only reclassifications and do not change the budgeted amount for any capital projects. The amounts being reclassified are to align with the ongoing activity within the budgeted projects.
Increase:
* Increase $1.5 million for construction settlement placed in the Long Term Reserve
Capital Reserves (Exhibit C)
* There are no changes to the Short Term Reserve between January 1, 2014 and January 31, 2014.
* There is an $11.6 million increase to the Long Term Reserve
. $1.5 million from the legal settlement
. $10.1 million from closing projects and purchase orders
School Board Goals
| Goal 3: Effective Communication |
Financial Impact
There is no additional financial impact to any capital projects for this agenda as of January, 2014 as indicated on Exhibit B. There is an $11.6 million increase in the Long Term Reserves as described in the Summary Explanation and Background.
Source of Additional Information
Omar Shim, Director 754 321-8200
Associated File Attachments
 |
Capital Projects Revenue Summary - Exhibit A (Files) | |
|
|
Capital Projects Appropriation Summary - Exhibit B (Files) | |
|
|
Capital Projects Reserve - Exhibit C (Files) | |
|
|
ExecutedARF (Files) |