CONSENT AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date: 

Raymond E.  Graham , Cedar Run District Supervisor

November 17, 2003

Staff Lead:

Department: 

Bryan Tippie , Director

Budget Office

Topic: 

A Resolution to Transfer Capital Improvements Program (CIP) Funds from School Construction Reserve to a Secondary School Facilities Project Account

Topic Description:

The School Division is requesting approval to transfer $824,341 within the CIP from its Construction Reserve to a Secondary Facilities Project account. At this time the School Board has not determined what type of facility it will propose to be constructed.  

In accordance with County policy, transfers between CIP projects require Board of Supervisorsí approval.  

This funding will be used for conceptual and schematic secondary facility designs in preparation for a bond referendum. This request was reviewed by the Finance Committee at its meeting on October 16, 2003 , and referred without recommendation to the full Board for consideration. This request was discussed as part of the Board of Supervisorsí October 20, 2003 work session on the Debt Referendum Policy.  

 

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

 

Financial Impacts Analysis:

As reflected above.

Identify any other Departments, Organizations or Individuals that would be affected by this request:

School Division

Finance Department  

 

RESOLUTION  

A RESOLUTION TO TRANSFER CAPITAL IMPROVEMENTS PROGRAM (CIP) FUNDS FROM SCHOOL CONSTRUCTION RESERVE TO A SECONDARY SCHOOL FACILITIES PROJECT  ACCOUNT  

WHEREAS, the Board of Supervisorsí Financial Policy requires Board approval of any transfer of funds between CIP projects; and  

WHEREAS, the School Board requests transfer of $824,341 from the School Construction Reserve to a Secondary Facilities Project account to be used for conceptual and schematic secondary facility designs in preparation for a bond referendum; and  

WHEREAS, the Board of Supervisors has considered this issue as part of its interpretation of the Debt Referendum Policy discussed at a work session on October 20, 2003 ; now, therefore, be it  

RESOLVED by the Fauquier County Board of Supervisors this 17th day of November 2003, That the Fauquier County Board of Supervisors does hereby approve the transfer of $824,341 between CIP projects as shown in the following:  

 

FROM

TO

 

Source

 

Code

 

Amount

 

Department

 

Code

 

Amount

 

Schools Construction Reserve

 

4-302-91400-0205

 

$824,341

 

School Division

 

4-302-94609-3140

 

 

$824,341