HEquipment Fund Information

As of June 30, 2018, the balance of the Equipment Fund (Fund 375) was $3,153,067. Of that total, $624,388 is reserved for Charter School equipment purchases and $1,038,775 has been set aside for technology purchases. The balance remaining for general equipment purchases was just under $1.5M.

Expenditures were made during FY18 in the amount of $243,770, which was less than the FY17 expenditure amount of $493,131.

Purchases included classroom furniture, custodial equipment such as vacuums and sno-blowers, and other equipment such as emergency action plan supplies and radios. Chrome books and licenses for the Technology plan.

Special revenue fund, such as the Equipment Fund, require a source of revenue other than transfers from the General Fund. For the Equipment Fund, that source of revenue is a portion of interest income, which is currently set at 20% of interest income earned. For FY18, that amounted to $57,029, which was higher than FY17 amount of $24,290.

The current year expenditures are not complete at this point, but currently total about $40,000. The Equipment Fund Committee reviewed school requests with an eye toward addressing purchases that would eliminate any safety concerns, such as replacement of desks, lunch tables and custodial equipment.

Attached is a table that shows the status of the fund from FY12 through FY18.