Created : May 10, 2014 at 10:42 PM
April 15, 2014
Status:
Approve the attached Capital Funds Budget Amendments for Fiscal Year 2013-2014. These amendments are as of February, 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)
Net Increase $450,743
- Increase $13,833 for a legal settlement for construction of the ADA Restroom Renovations project at Country Hills Elementary School as approved at the 5/21/13 School Board meeting (HH-1)
- Increase $76,800 for receipt of sale of land proceeds from the Oakland Park Elementary School Acreage Site as approved at the 12/17/2013 School Board meeting (LL-6)
- Increase $279,630 to recognize year-to-date receipt of gas tax revenues
- Increase $80,480 from the sale of surplus equipment and vehicles
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.
- Savings from debt service refinancing were decreased from the Debt Service Transfer and placed in the Long Term Reserve
Increase:
- Increase $450,743 for revenue recognition placed in the Long Term Reserve
Capital Reserves (Exhibit C)
- There are no changes to the Short Term Reserve between February 1, 2014 and February 28, 2014
- There is a $450,743 increase to the Long Term Reserve from revenue recognition
- There is a $266,666 increase to the Long Term Reserve from debt service savings
There is no additional financial impact to any capital projects for this agenda as of February 2014. There is a $450,743 increase in miscellaneous local revenue and savings of $266,666 in the capital debt service from refinancing approved at the February 4, 2014 School Board meeting. The additional revenue and the debt service savings have been added to the Long Term Reserve.
Requested Action
Approve the attached Capital Funds Budget Amendments for Fiscal Year 2013-2014. These amendments are as of February, 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)
Net Increase $450,743
- Increase $13,833 for a legal settlement for construction of the ADA Restroom Renovations project at Country Hills Elementary School as approved at the 5/21/13 School Board meeting (HH-1)
- Increase $76,800 for receipt of sale of land proceeds from the Oakland Park Elementary School Acreage Site as approved at the 12/17/2013 School Board meeting (LL-6)
- Increase $279,630 to recognize year-to-date receipt of gas tax revenues
- Increase $80,480 from the sale of surplus equipment and vehicles
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.
- Savings from debt service refinancing were decreased from the Debt Service Transfer and placed in the Long Term Reserve
Increase:
- Increase $450,743 for revenue recognition placed in the Long Term Reserve
Capital Reserves (Exhibit C)
- There are no changes to the Short Term Reserve between February 1, 2014 and February 28, 2014
- There is a $450,743 increase to the Long Term Reserve from revenue recognition
- There is a $266,666 increase to the Long Term Reserve from debt service savings
School Board Goals
| Goal 3: Effective Communication |
Financial Impact
There is no additional financial impact to any capital projects for this agenda as of February 2014. There is a $450,743 increase in miscellaneous local revenue and savings of $266,666 in the capital debt service from refinancing approved at the February 4, 2014 School Board meeting. The additional revenue and the debt service savings have been added to the Long Term Reserve.
Source of Additional Information
Omar Shim, Director 754 321-8200
Associated File Attachments
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Budget Revenue Exhibit A (Files) | |
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Budget Appropriation Exhibit B (Files) | |
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Budget Reserve Exhibit C (Files) | |
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ExecutedARF (Files) |