Capital Funds

REVISED BUDGET (OCTOBER)

Overview

WUSD utilizes three separate funds for capital projects. Each fund has unique characteristics and is established and funded differently.

Capital Expansion (Fund 41)

The Capital Expansion Fund is restricted to capital expenditures related to buildings and sites, such as acquiring and remodeling buildings and sites and maintenance or repair expenditures that extend or enhance the service life of buildings and sites and related components. This fund cannot be used to purchase equipment.

Contributions to the Capital Expansion fund must be determined at the time the levy is set. Contributions decrease the revenue limit authority available for other purposes.

A levy of $150,000 for 2020-21 is proposed.

The only expensed currently budgeted for str replacement of the roof over the high school gyms , which was completed in summer 2020, and the proposed replacement of the chiller at the high school, which is original to the building (25+ years old).

Capital Improvement (Fund 46)

The Capital Improvement Fund was established by Board action in May, 2019. This fund requires a long-term (10-year minimum) capital improvement plan. Funds cannot be utilized for five years from the date of the initial deposit.

No contribution is currently budgeted for.

Capital Projects (Fund 49)

The Capital Projects Fund (49) holds the proceeds from the debt issued related to the 2016 facilities referendum. Fund 49 should be exhausted by fiscal year end.