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Meeting Date:
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5/10/2017 - 2:00 PM
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Category:
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SPECIAL MEETING BUSINESS
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Type:
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Action
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Subject:
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Capital Appropriation Request
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ACPS Division Objective :
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Objective 5 We will optimize resources.
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Enclosure:
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File Attachment:
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Summary:
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A more competitive construction market is causing many bids to come in over budget. If this occurs with projects we have scheduled for this summer, it may be necessary to shift funding to cover these increased costs. In the case of Woodbrook Elementary School, it may require that the School Board request an increase in the appropriation for that specific project. Staff recommends that the source of this increase be year two modernization funding, albeit it is hoped that the Board of Supervisors will ultimately agree to restore those funds. To ensure that these projects begin on time, any actions required of the School Board and the Board of Supervisors need to occur on May 10. The School Board has a meeting scheduled on May 10 immediately prior to the joint boards meeting and the Board of Supervisors has a meeting scheduled that evening. Two actions may be needed by the School Board:
1. The School Board requests that the Board of Supervisors increase the appropriation of the Woodbrook project by $xxx,xxx and decrease in the appropriation to the modernization project by a commensurate amount. 2. The School Board requests that the Board of Supervisors consider at their earliest opportunity to increase the bond referendum projects’ total appropriations to cover any current appropriations that have had to be used to cover bids that exceeded budget amounts. The School Board makes note that the interest costs for the general obligation bonds are lower than budgeted and that these reduced costs could be used to incur additional debt to cover projects that are over budget.
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Funding:
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Recommendation:
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Make requests to the Board of Supervisors as outlined above.
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Approvals:
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Recommended By:
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Signed By:
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Rosalyn Schmitt - Chief Operating Officer
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Signed By:
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Dean Tistadt - Chief Operating Officer
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Signed By:
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Dr. Pamela Moran - Superintendent
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