ORD-2011-009 School Capital Projects Budget Ordinance Amendments – Budget Amendment #7-B

Browse Search

5 or potential over - budget conditions. Indicated problems will be discussed with the responsible department to determine any action that is needed and who is responsible for taking the action. IV. Closing Capital Project Ordinances Capital Project Ordinances are considered to be for the life of the project. Projects should be closed out in as soon as possible once the project is completed. For audit and financial 'reporting purposes Capital Project Ordinances and activity have to remain in the financial records till the fiscal year is closed if any activity has taken place during a fiscal year. Active Capital Projects Ordinances will be reviewed by the Financial Services Department after the completion of each fiscal year. A determination will be made in consultation with the responsible Department or School System if there will be any further activity beyond the end of the fiscal year related to the project. Those capital projects that will have no further activity will be brought to the Board of County Commissioner for closure of the Capital Project Ordinance: Capital Projects Ordinances which have continual funding through annual amendments will be amended to close prior year funding for which activity is completed. V. Use of Capital Project Funds Capital Project funding should be used for capital purposes. Exceptions to this would be startup costs associated with new schools. Renovation and major replacements (roofs, HVAC) can be included within the definition, of capital projects however normal ongoing maintenance expenditures are not. Note —these guidelines are to be discussed with the school system staff to arrive at agreement about such things as. what should be purchased-from capital funds; the definition of start-up costs, review processes and project closure.