The district will confine long-term borrowing to capital projects and purchases of equipment as required by law.
When the district finances capital projects by issuing bonds, it will pay back the bonds within a period not to exceed the expected useful life of the asset acquired.
The district will develop and administer a long-term prioritization plan or list for capital improvements and update it annually.
The district will budget for major capital projects in accordance with the priorities of the Board of Education.
For planned capital projects and capital asset expenditures that are not completed by June 30th of the current year, the district will re-appropriate funds to ensure completion of these projects and expenditures in the next year.
Asset Inventory. The district shall conduct a periodic asset inventory to assess the condition of all major capital assets. This information will be used to plan for the ongoing financial commitments of the district.