City of Ledyard CT header
File #: 24-0172    Version: Name:
Type: General Discussion Status: Agenda Ready
File created: 2/14/2024 In control: Finance Committee
On agenda: 11/6/2024 Final action:
Title: MOTION to transfer the Board of Education Capital Fund for Non-Bonded Board of Education Capital Items back to the Town's Capital Nonrecurring Fund (CNR Fund 210).
Attachments: 1. Finance Cmt Agenda-Motion-2024-10-16, 2. BOE Non Bonded Capital Accounts in Fund 210

AGENDA REQUEST

GENERAL DISCUSSION ITEM

 

Subject:

title

MOTION to transfer the Board of Education Capital Fund for Non-Bonded Board of Education Capital Items back to the Town’s Capital Nonrecurring Fund (CNR Fund 210).

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Background:

 

This action would move the five non-bonded Board of Education capital lines back to the Town’s CNR Fund 210.

 

Town Council Meeting 2/21/2024 

At their February 21, 2024 meeting the Town Council approved to create a new, stand alone, Board of Education Non-Bonded Capital Fund.

 

The Board of Education had five non-bonded capital lines that were nested within the Town’s CNR Fund 210.  As these are part of the Town’s Capital Account, all the activity flowed through the Town’s finance department.  This created additional work and oversight for the Town’s finance department that could be alleviated by creating a new, stand alone, Board of Education Non-Bonded Capital Fund.  It would also speed up the process and create a smoother workflow for the Board of Education.

 

 

 

Department Comment/Recommendation:

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