01-19-2016 Regular School Board Meeting
Agenda Item #56


Title
Independent Citizens Oversight Committee - Sales Surtax Policy Recommendation (Policy 6350.03)

Discussion

Project Management staff is executing the sales surtax program and is reporting to the Independent Citizens Oversight Committee (ICOC) every two months. The report includes a summary of revenue and expenditures to date as well as an itemization of failing infrastructure that requires action out of the priority sequence or utilizing contingency funds. As the sales surtax program is being implemented Project Management staff and the ICOC are recognizing the need for policies to guide administration.

Recently, the staff and ICOC proposed policies relating to contingency allocation and revenues in excess of estimates. These conversations led to consideration of the circumstance where the District may desire to temporarily advance available cash from one group (facility renewal, educational technology or school security) to another group in order to advance a project or groups of projects. Because the facility renewal group has a significantly larger allocation and accumulates sales surtax revenues because of the lengthy project development time, the resources may be available to temporarily transfer to another group without significantly impacting the facility renewal schedule.

The proposed Policy 6350.03 allows the temporary transfer of available cash from one group to another group in order to advance fund a priority project or group of projects. Both groups must make the request to the Finance Department and approval is required from the Assistant/Associate Superintendent of the group from which the funds will be transferred.

The ICOC unanimously recommended the policy for consideration by the School Board.



Recommendation

Approve Policy 6350.03 - Temporary Transfer of Sales Surtax Between Groups.



Meeting Date(s)
Information - 1/19/2016
Consent after Information2/9/2016
Public Hearing3/15/2016

Authority for Action
F.S. 1001.42

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Agenda Item will not Require the Expenditure of Funds

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program

Contact
Susan Hann, P.E., AICP, Director of Planning and Project Management


Attachment:  Draft sales surtax policy temporary transfers.pdf