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.
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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.