Transfer Appropriations 02-09-09.docx

TO: / Dr. Steven Stephanoff
FROM: / Paul G. Gabriel
DATE: / February 5, 2009
SUBJECT: / Resolutions to Transfer Appropriations

Attached are three resolutions to transfer appropriations. We are recommending that these be approved by the Board at the February 9, 2009, meeting:

  1. Transfer of Debt Service Funds to the Rainy Day Fund – This transfer of $508,000 is the savings generated by the recent refinancing of the 1993 High School Bonds. This refinancing was approved by the Board in September, but delayed until January because of the recent fluctuations in the bond markets. The additional appropriation resolution that will follow on February 9 describes how these funds will be used.
  2. Transfer of CPF Funds to the Rainy Day Fund–This transfer of $480,000 is from closed projects in the CPF fund. The additional appropriation resolution that will follow on February 9 describes how these funds will be used.
  3. Transfer Within the CPF Fund – When the 2009 CPF budget was developed, an incorrect account number (223100) was used in place of the correct number (223600). This resolution moves the money into the correct account.

Transfer Appropriations 02-09-09.docx

Center Grove Community School Corporation

Resolution Approving Transfer of Debt Service Funds

to the Rainy Day Fund

Whereas, the Center Grove Community School Corporation Board of School Trustees established by resolution on September 18, 2003 a Rainy Day Fund, and

WHEREAS, the resolution stated the purposes and sources of funding for the Rainy Day Fund, and

WHEREAS, the Center Grove Community School Corporation Debt Service Fund currently has unused/unencumbered appropriations of at least $508,000;

Therefore, be it resolved that $508,000 of the unused/unencumbered appropriations of the Debt Service Fund be transferred to the Rainy Day Fund.

Adopted this 9th day of February 2009.

AYENAY

Attest:

Secretary, Board of School Trustees

Center Grove Community School Corporation

Resolution Approving Transfer of CPF Funds

to the Rainy Day Fund

Whereas, the Center Grove Community School Corporation Board of School Trustees established by resolution on September 18, 2003 a Rainy Day Fund, and

WHEREAS, the resolution stated the purposes and sources of funding for the Rainy Day Fund, and

WHEREAS, the Center Grove Community School Corporation Capital Projects Fund currently has unused/unencumbered appropriations of at least $480,000;

Therefore, be it resolved that $480,000 of the unused/unencumbered appropriations of the Capital Projects Fund be transferred to the Rainy Day Fund.

Adopted this 9th day of February 2009.

AYENAY

Attest:

Secretary, Board of School Trustees

Center Grove Community School Corporation

Resolution to Transfer Appropriations Within the Capital Projects Fund

Whereas, there is an insufficient amount of appropriation in the following accounts and object codes for the Capital Projects Fund to meet expenses for the calendar year 2009;

Therefore, be it resolved that the following accounts and object codes be increased by the amount listed below:

350-22360-7410-101 Technology - Hardware$ 10,000.00

350-22360-7470-101 Technology - Software$ 8,000.00

Total Increase$ 18,000.00

Whereas, there are unobligated balances in the following accounts and object codes of the General Fund, which will not be needed for the purpose for which they were appropriated;

THEREFORE, be it resolved that the following accounts and object codes be decreased by the amount listed below:

350-22310-7410-101 Technology Supervision - Hardware-$ 10,000.00

350-22310-7470-101 Technology Supervision - Software-$ 8,000.00

Total Decrease-$ 18,000.00

Adopted this 9th day of February 2009.

AYENAY

Attest:

Secretary, Board of School Trustees

Transfer Appropriations 02-09-09.docx