FY 23 APPROVED CAPITAL BUDGET

Fleet Replacement

BOARD OF EDUCATION Project Number:

Operating Budget Impact

B214108 Multiple Various

Council District:

Revenues:

Location:

Expenditures: Cost Savings: None:

Est. Debt Service:

$404

(annual)

X

Expended/Encumbered as of 2/9/22: $1,533,434

Project Schedule/Status:

PROJECT DESCRIPTION: This project provides funds for replacement of special education buses and essential vehicles and equipment at the end of life and will purchase new vehicles & equipment as required. Special education buses are required to meet the needs of growing numbers of students, programs & schools. These buses must comply with Federal regulations and meet IEP requirements for special education transportation. The MSDE requires that school systems replace buses after 12 years of use. The FY 23 request reflects the cost of replacing all buses that passed the 12 year replacement cycle and allows time to be sure the funds are available prior to bidding and building the buses. For FY 23 there are 6 special needs buses that have reached the fifteen year mark and must be replaced by law.

Replacement of special needs buses (29 buses over 12 years old) at $3,451,000. 6 were due in FY 2020 ($714,000); 11 were due in FY 2021 ($1,309,000); 5 were due in FY 2022 ($595,000; and 7 were due in FY 2023 ($833,000).

EXPENDITURE SCHEDULE

Approp Total

Cost Element

Prior

FY 2023

FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

TOTAL

Engineering/Design Land Acquisition

0 0 0 0

0 0 0 0

Construction

Inspection Fees

Equipment/Furnishing

5,510,159 3,455,000 8,965,159 5,510,159 3,455,000 8,965,159

8,965,159 8,965,159

Total Cost:

0

0

0

0

0

FUNDING SCHEDULE

R8750 Paygo R7100 Prior Bonds R6999 Other BOE

2,644,000 3,455,000 6,099,000

6,099,000

16,159

16,159

16,159

2,850,000

2,850,000

2,850,000

0 0

0 0

Total Cost:

5,510,159 3,455,000 8,965,159

0

0

0

0

0

8,965,159

162