City of Ledyard CT header
File #: 24-0645    Version: Name:
Type: Financial Business Request (FBR) Status: Passed
File created: 7/17/2024 In control: Town Council
On agenda: 9/4/2024 Final action: 8/14/2024
Title: MOTION to transfer additional revenues received for Fiscal Year 2023/2024 as follows: * $39,502 received from the ASTE Program to Account #22570101 (BOE ASTE CNR) to be used as requested in the Board of Education's email dated August 8, 2024 as follows. * $27,000 Ag-Classroom multimedia equipment and interactive projector replacements * $12,500 to Update to the lighting system in the classrooms to LED * $304,635 received from Impact Aid to Account #22570101 (BOE CNR Reserve Fund) to be used for the following in accordance with the Board of Education's Fiscal Year 2024/2025 Capital Improvement Plan (CIP): * $210,000 Ledyard High School Existing Elevator Replacement * $73,300 Gallup Hill School Recommissioning * $21,335 Juliet W. Long School-Gales Ferry School Playground.
Attachments: 1. Board of Education email-2024-08-13- Revenues-Impact Aid & ASTE Funding- Response to LTC Ltr 2024-07-25, 2. Impact Aid & ASTE Additonal Funding FY 23-24-LTC ltr to Board of Education.pdf, 3. Board of Education -Transfer -Additional Revenue -ASTE Funding & Inpact Aid-ltr-2024-07-15 .pdf, 4. Town Council Action- Additonal ASTE & Impact Aid Funding FY23-24-Ltr-2024-08-15

AGENDA ITEM

FINANCIAL BUSINESS REQUEST (FBR)

 

Subject:

title

MOTION to transfer additional revenues received for Fiscal Year 2023/2024 as follows:

 

                     $39,502 received from the ASTE Program to Account #22570101 (BOE ASTE CNR) to be used as requested in the Board of Education’s email dated August 8, 2024 as follows.

 

ü                     $27,000 Ag-Classroom multimedia equipment and interactive projector replacements

ü                     $12,500  to Update to the lighting system in the classrooms to LED

 

                     $304,635 received from Impact Aid to Account #22570101 (BOE CNR Reserve Fund) to be used for the following in accordance with the Board of Education’s Fiscal Year 2024/2025 Capital Improvement Plan (CIP):

 

ü                     $210,000 Ledyard High School Existing Elevator Replacement

ü                     $73,300 Gallup Hill School Recommissioning

ü                     $21,335 Juliet W. Long School-Gales Ferry School Playground.

end

 

 

Background :

 

After the Town Council’s June 12, 2024 action to appropriate $129,698 to Account #22570101-58261 (BOE CNR Ag-Science additional ASTE Funding was received in the amount of $39,502

 

Also, for Fiscal Year 2023/2024 the Impact Aid Revenue received was $304,635 higher than the amount that was included in the budget.

 

Therefore, the Board of Education has requested these additional revenues be transferred to their Capital Accounts as noted above.(please see attached letter 7/15/2024.