Capital projects funds are used to account for financial resources used for the acquisition or construction of capital facilities. These include land, improvements to land, buildings, building improvements, and infrastructure. Voters at an annual meeting must "vote a tax to create a fund for the purpose of financing all current and future capital expenditures related to buildings and sites." The resolution must be sent to DPI for its files. The money may not be used for any other purpose unless authorized by a later annual meeting. Unified school districts may authorize the fund by a vote of the school board. The levy is included in the revenue limit calculation. Upon expending part or all of the fund, a district's shared cost is increased on an amortized basis. The amortized shared cost is determined by the number of years the district levies into the fund.
This information is from the Department of Public Instruction. For more information, visit DPI's page on capital projects funds.
Whitnall School District 10 year Capital Improvement Plan
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