Item details
Rationale: Twice each year, the Measure T Bond Program Team conducts a formal review and update of the project and program budgets and funding, and presents results and recommendations to the Redwood City School District Board of Trustees. The updated budget which will be presented is the culmination of several months of study, testing, adjusting, scheduling and confirmation. The team included a diverse group of professionals, with diverse skills and expertise, from internal School District departments, School District leadership, and external school construction and program management professionals. The process included review of costs and labor, review and testing of assumptions, objective debate, parametric and sensitivity testing, and intensive use of a software planning, managing and tracking system. The team will present the updated program budget for the School Board's consideration for adoption. The presentation will include updates and overview of each of the following: · Revenue Transactions Report: actuals and projections, updates to all capital funds; · Sources and Budgets Report: showing the funding source(s) and budget for each project and the program totals, and also showing the changes to each project since the September 16, 2020 budget approval. Financial Impact: N/A Budget Sources: Fund 01, Proposition 39 (Energy) Funds; Fund 21, Measure T General Obligation Bonds; and Fund 25, Impact Fees. Submission for Approval Prepared by: Don Dias, Bond Program Director Approved by: John R. Baker, Ed.D., Superintendent §