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Regular Business Meeting
Erin Verschoor, Administrative Assistant
Resolution 21-27, Redirection of Capital Project Funds to the General Fund
It is recommended that the board authorizes redirection of Capital Projects Funds to General Fund pursuant to RCW 28A.335.060.
RCW 28A.335.060 allows certain moneys derived from real property to be diverted from the Capital Projects Fund to the General Fund with Board approval. The diverted funds, however, must be used for non-recurring costs related to operating school facilities, including expenses for maintenance.
In 1999, 2006 and 2015 cellular towers were installed at the Meadowdale Playfields site. The District has lease agreements with three cellular providers and the revenue generated from these agreements is directed into the Capital Projects Fund per RCW 28A.335.060 and managed by Facilities.
District staff have evaluated all funding options and, in order to maximize all resources, recommends the diversion of Capital Projects Fund revenue to the General Fund. Resolution 21-27 recommends that up to $400,000 be redirected from the Capital Projects Fund to the General Fund in school fiscal year 2021-22.
Budget & Finance Exec Dir (Originator)
06/16/2021 12:56 PM
06/16/2021 01:01 PM
Form Started By:
06/16/2021 11:46 AM
Final Approval Date:
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