Completion Recap

  • The Completion Recap sheet provides a variety of information pertaining to the bond projects; to include, budgets, bond allocation, and other funding sources, total spent to date – reflected as of the most recent reconciliation.

    The first two columns provide the project number and project name.  The third column is the Total Project Cost; this is a sum of all the columns to the right; which identify other various potential funding sources that are expected to be utilized to fund the total cost of the project.

    Other funding sources that may be utilized include:

    • Capital Outlay – funding source is state general obligation bonds for school facilities
    • SM 50% Match – State Scheduled Maintenance monies which require a 1:1 match (50%)
    • Haz Mat – Hazardous Materials project funding from the State
    • Grant – grants that a particular project may qualify for; also include any rebates that may be received to assist with funding
    • Other – funding sources that do not fit into one of the other category columns; i.e. District funds
       

    The next four columns are Measure L funding allocations, which include:

    • Capital Outlay Match are matching monies/ local contribution that may be required for the Capital Outlay funds
    • SM 50% – the matching 1:1 monies needed for the State SM match
    • Non-Match Allocation – the amount of Measure L funds allocated to a project that are not Matching funds for Capital Outlay or Schedule Maintenance funds
    • The forth column is the sum of the first three; which indicates the total Measure L monies allocated to the project
       

    The Remarks column will indicate the current status of the project or pertinent information.

    The last three columns indicate only the Measure L expenditures for each project, total spent to date, remaining balance, and percentage expended.

    The Bonds are not all sold at one time; they are sold in increments indicated by the Bond series sales.  The factor of how much of the bond is sold and when the bonds are sold is determined by the tax assessors assessed values for property within the SFID area.