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Meeting Date:
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3/14/2024 - 5:30 PM
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Category:
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APPROVAL OF CONSENT AGENDA
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Type:
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Action
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Subject:
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FY 24 Appropriation for Land Acquisition
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ACPS Division Objective :
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Goal 3 Equitable, Transformative Resources
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Enclosure
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File Attachment:
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Summary:
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This request is to appropriate $1,900,000 to purchase a strategic land parcel that is adjacent to an existing school and will support future growth needs. The parcel is approximately 10 acres of undeveloped land. The offer from ACPS was accepted by the owner and we are currently in the study period for the parcel. This purchase is recommended to be funded by:
$750,000 from the CFA Institute Summer Rental Fund. This Fund was established to account for the revenue collected from the CFA Institute for the annual summer rental of Monticello High School. The revenues collected were used for the maintenance of the building due to the wear and tear from use of the facility. The CFA Institute ended their program at Monticello High School facility at the beginning of the COVID-19 pandemic, and no revenues continue to be collected.
$1,150,000 in the Capital Fund’s fund balance. This recommended use of fund balance was considered in the context of the Recommended FY 25-29 Capital Improvement Plan.
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Funding:
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As presented.
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Recommendation:
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Request the Board of Supervisors appropriate the funding as presented and amend the appropriations ordinance accordingly.
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Approvals:
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Recommended By:
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Signed By:
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Maya Kumazawa - Director of Planning and Budget
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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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Dr. Matthew Haas - Superintendent
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