2011T12 ANNUAL BUDGET - Granite School District

Granite School District
2011-12 Budget
Organizational Section
the property expenditures are also recorded in the General Fund. Equipment purchases as well as
costs associated with maintaining equipment and buildings are included in the General Fund.
Other Objects - Principal and interest payments have been the major expenditures in this category in
recent years. Also included in this category are association dues, legal settlements, and training for
transportation employees.
Capital Projects
District voters approved $256 million of general obligation bond authorization in the November 2009
general election. The bonds were approved for the following building projects:
Projects
Estimated Completion Date
Rebuild Granger High School Fall 2013
Rebuild Olympus High School Fall 2013
Rebuild Oakwood Elementary
Completed
Rebuild Woodstock Elementary
Completed
Rebuild Hartvigsen School Fall 2012
New elementary school (Elk Run) Completed
New elementary school Fall 2012
A/C for all schools Fall 2012
New junior high school
To be determined by enrollment needs
The district issued $80 million in bonds in May 2010 and $102,925,000 in July 2011, leaving remaining
authorization of $73,075,000.
The bond projects were approved prior to the November 2009 election after a lengthy study by the Board of
Education. After the voters approved the bonds, planning and construction began on the project list. The
bond projects will be the focus of capital spending for the next 3 to 4 years. Bond proceeds and project
expenditures are part of the district’s Capital Outlay Fund. However, for purposes of this book, accounting
for the projects has been shown in the Bond Projects Fund. These two funds will be combined in the
district’s Comprehensive Annual Financial Report.
A schedule of the budgets for each of the projects is included in the Bond Projects Fund section of this
book.
Impact of Capital Projects on the General Fund
Although capital projects are funded from the Capital Outlay Fund, operating costs for new buildings can
have an impact on the General Fund. Every school has fixed or overhead costs that are incurred to keep
the building operating such as salaries for principals and assistants, secretaries, custodians and a media
center coordinator. Additional costs are incurred for maintenance and utility costs for new buildings. A
schedule of the planned building projects and their impact on the General Fund is included in the Bond
Projects Fund.
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