Benefits Amortization of Provides an end of fiscal Allow districts to set aside expenditures levels out year opportunity to funds in segregated accounts shared cost increases. reallocate to more from the sale of property and fully expend the Fund gifts for future capital Allows districts to set aside 10 budget. projects. funds in segregated accounts for capital Allows districts to set Identifies expenditures for projects. funds in segregated capital improvements accounts for capital including care and Identifies planned projects. maintenance of facilities. expenditures for capital improvements including Identifies planned care and maintenance of expenditures for capital facilities. improvements including care and maintenance of facilities. Capital Projects Funds Capital projects are used to account for financial resources used for the acquisition or construction of capital facilities. These include land, improvements to land, buildings and building improvements and infrastructure. According to WUFAR, these funds are used to account for capital projects. Fund 41 is used for transactions financed with an expansion fund tax levy. Fund 46 is used for transactions financed with a transfer from Fund 10. Fund 48 is used for transactions financed with a TIF capital improvement tax levy. Fund 49 is used for transactions financed with bonds, promissory notes issued per statute. 67.12(12), and in some instances other sources of revenue such as gifts, grants, sale of capital equipment, buildings or sites. (Funds 44 QZAB and 45 QSCB are sub funds of 49.) Further reporting information: Capital Expansion Fund (Fund 41) Voters at an annual meeting must "vote a tax to create a fund for the purpose of financing all current and future capital expenditures related to buildings and sites." The resolution must be sent to the Department of Public Instruction for its files. The money may not be used for any other purpose unless authorized by a later annual meeting. Unified school districts may authorize the fund by a vote of the school board. The levy is included in the revenue limit calculation. Upon expending part, or all, of the fund, a district's shared cost is increased on an amortized basis. The amortized shared cost is determined by the number of years the district levies into the fund. See below for more information on establishing and reporting a capital expansion fund, and its effect on shared cost. (Add link to document and power point)
Benefits Amortization of expenditures levels out shared cost increases. Allows districts to set aside funds in segregated accounts for capital projects. Identifies planned expenditures for capital improvements including care and maintenance of facilities. Provides an end of fiscal year opportunity to reallocate to more fully expend the Fund 10 budget. Allows districts to set funds in segregated accounts for capital projects. Identifies planned expenditures for capital improvements including care and maintenance of facilities. Allow districts to set aside funds in segregated accounts from the sale of property and gifts for future capital projects. Identifies expenditures for capital improvements including care and maintenance of facilities. Capital Projects Funds Capital projects are used to account for financial resources used for the acquisition or construction of capital facilities. These include land, improvements to land, buildings and building improvements and infrastructure. According to WUFAR, these funds are used to account for capital projects. Fund 41 is used for transactions financed with an expansion fund tax levy. Fund 46 is used for transactions financed with a transfer from Fund 10. Fund 48 is used for transactions financed with a TIF capital improvement tax levy. Fund 49 is used for transactions financed with bonds, promissory notes issued per statute. 67.12(12), and in some instances other sources of revenue such as gifts, grants, sale of capital equipment, buildings or sites. (Funds 44 QZAB and 45 QSCB are sub funds of 49.) Further reporting information: Capital Expansion Fund (Fund 41) Voters at an annual meeting must "vote a tax to create a fund for the purpose of financing all current and future capital expenditures related to buildings and sites." The resolution must be sent to the Department of Public Instruction for its files. The money may not be used for any other purpose unless authorized by a later annual meeting. Unified school districts may authorize the fund by a vote of the school board. The levy is included in the revenue limit calculation. Upon expending part, or all, of the fund, a district's shared cost is increased on an amortized basis. The amortized shared cost is determined by the number of years the district levies into the fund. See below for more information on establishing and reporting a capital expansion fund, and its effect on shared cost. (Add link to document and power point)
Capital-Projects-Funds-Summary-Update2018.docx