Agenda Item
iii. FY24 Capital Improvement Projects (CIP) - Program Adjustments
Summary: Presented by: Mr. Erick Hofstetter, Chief Operating Officer, Division of Operations
Request: It is requested that the Board of Education approve the recommended budget adjustments to projects in the District’s E-SPLOST V program found in the document “E-SPLOST V Adjustments August 2023.pdf."
Why: Several projects in the E-SPLOST V program are complete or no longer necessary. The requested project budget adjustments will move any remaining budget in these projects to program contingency. This will increase the budget available to support still active E-SPLOST V projects.
Details: Several E-SPLOST V projects have been completed in the past year and are ready to have all remaining budget moved to Program Contingency. In addition, the approval of E-SPLOST VI has made several projects, including all “set-aside” projects, no longer necessary. These projects are also ready to have their budget moved to Program Contingency.
The attached E-SPLOST V Adjustments Aug 2023 details all recommended budget adjustments.
All remaining budget moved from closed projects will be used to increase the budget of Project 602: Program Contingency to account for expected future budget increases in remaining active E-SPLOST V projects. Budget will be moved from Program Contingency to active projects as needed at the same time that commitments are approved (for example: Board approval of contract award).
Financial impact: See attached document “E-SPLOST V Adjustments August 2023.pdf” for financial impact on individual E-SPLOST V projects.
Contact: Standard 4: Resources and Support Systems
Status: Approved by General Counsel
CHRONOLOGY OF THE AGENDA ITEM
In March of 2017 the Board approved the “Proposed E-SPLOST V Project Listing with Anticipated
Start/Finish Dates (March 17, 2020)”. This March 2017 project list included a budget, scope, and
anticipated schedule for each E-SPLOST V project.
On February 10, 2020, the Board approved the “E-SPLOST V Budget Adjustments and Scope Revisions
(February 10, 2020)”. This February 2020 project list included major adjustments to the budget and scope
of existing projects, as well as created new E-SPLOST V projects.
On June 8, 2020, the Board approved the creation of 10 new Capital Renewal Projects using funds set
aside as part of the February 10, 2020, budget adjustments and scope revisions.
On April 18, 2022, the Board approved increasing the overall E-SPLOST V Program budget from
$561,000,000 to $630,00,000.
On February 1, 2023, the Board approved the E-SPLOST VI Scope of Projects.
If approved, the recommended budget adjustments to projects in the District’s E-SPLOST V program will
increase the efficiency and effectiveness of District’s Capital Improvement Program by closing completed
and no longer necessary projects and make budget available to support active E-SPLOST V projects.