Capital Projects
Background
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Capital projects are building projects for certain capital outlays and debt service for school buildings housing elementary and/or secondary students and for school bus garages. Such projects may include new buildings, the purchase of lands, the development or recondition of fields, and alterations and renovations of facilities.
Construction projects and site purchases may be financed by any one, or any combination of:
Large construction projects will require long-term commitments to be repaid annually as principal and interest. Debt service will be required for bond issues, bond anticipation notes, and capital notes. The allowable period of bonding may be limited by the period of probable usefulness. In lieu of bonds, interim financing can be provided by bond anticipation notes for a maximum of five years RETURN TO TOP |
Intent
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To fund construction or renovation of physical structures and/or Architectural, Mechanical, Electrical, Plumbing, and/or Technology (AMEPT) building systems.
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Usage
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Any building-based technology infrastructure and IP-connected systems associated with a district capital project can have its funding covered in the construction costs.
However, it is often advantageous to use other funding sources in conjunction with the capital project budget to stretch the latter. For example, in a school renovation project, select technology infrastructure and building systems could be funded by the district’s SSBA allocation. There are different sections of the capital project budget under which technology infrastructure and IP-connected building systems can be categorized. Student, teacher and staff computing devices and peripherals are generally not considered part of a capital project budget (unless they can be considered Fixtures, Furnishings and Equipment [FFE]). State Building Aid for Public School Districts and BOCES Building Aid is available for certain approved capital outlays and debt service for school buildings housing elementary and/or secondary students and for school bus garages. A project is not eligible unless the construction costs of the project equal or exceed $10,000, excluding incidental costs. NYS Building Aid is a funding source for Capital Projects. RETURN TO TOP |
Eligibility
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Filing
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Payment
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Resources
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Note that New York State Education Dept. (NYSED) is still issuing guidelines for use of NYS's $7.9 billion allocated in the American Rescue Plan (ARP) passed by U.S. Congress in March 2021. Currently, available district funds must be spent by Sept. 30, 2024, although a deadline extension is possible. Sign up to be notified when significant content updates are posted.