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Contingency funds are monies included in bond program budgets to augment project-level budgets that may be insufficient due to:
When developed, both the 2004 and 2008 bond programs included a 10 percent program-level contingency budget:
Original Program-Level Contingency for the $519.5 million 2004 Bond Program = $49,721,983*
Original Program-Level Contingency for the $343.7 million 2008 Bond Program = $23,809,161*
* Certain bond program projects and activities do not receive a contingency budget allocation due to the more predictable nature of their costs and their immunity to significant unforeseen increases in costs over time. These projects/activities include legal expenses, the purchase of buses, computers, software and technology systems. For this reason, the total program-level contingency does not equal exactly 10 percent of the bond program totals.
Contingency Funds Status
As of April 11, 2013, the unspent contingency funds for both the 2004 and 2008 bond programs total:
Current 2004 Bond Program Projected Accumulated Unspent Contingency Budget Balance = $1,259,915**
Current 2008 Bond Program Projected Accumulated Unspent Contingency Budget Balance = $295,350**
** These totals include funds generated by Austin Energy rebates for Green Building initiatives.
For a detailed report on the status of the bond programs contingency funds, please view the most current contingency fund reports below. View archived detailed contingency fund reports.
Utilizing Surplus Contingency Funds
As the majority of projects outlined in the original scope of the bond programs have been completed or are nearing completion, the District begins the process of assessing the amount of remaining contingency funds to explore potential uses of these funds. As with all funding provided through bond programs, there is a process to determine how monies should be used to ensure taxpayer dollars are being spent efficiently and effectively in a manner that reflects the original intent of the bond referendum. Any use of bond program contingency funds must fall within the scope of work described in the original bond referendum.
Steps in Process for Determining Specific Uses of Unspent Contingency Funds
Approved Utilization of 2008 Bond Program Contingency Funds
First Round of Approved Work for Implementation in 2012
In November 2011, the CBOC approved a recommendation to the Board of Trustees for the use of surplus contingency funds for urgent maintenance work. On January 30, 2012, the Board of Trustees approved a list of critical renovations projects estimated to cost $10,727,802, and the cost for the facilities implementation of the Annual Academic and Facilities Recommendations (AAFRs) for the 2012-2013 school year estimated at $5,361,658, to be funded through surplus 2008 Bond Program contingency funds.
Once projects were approved, the District began the process to design projects and hire contractors with work anticipated to take place over summer 2012. The majority of work is on schedule to be completed before the start of the 2012-2013 school year. Updates on the progress of projects, funded through contingency funds, are available on the bond program project pages for individual facilities accessible using the drop down menu at the right.
Approved Urgent Maintenance Work
See a detailed description of 2008 contingency fund urgent maintenance work projects by campus or select a facility in the drop-down menu to the right to see all bond program projects for that facility including projects approved to be funded through contingency funds.
Approved Facilities Work for the Annual Academic and Facilities Recommendations (AAFRs)
For more information on the AAFRs, visit the Facilities Master Plan section of the website.
Second Round of Approved Work for Implementation in 2014
Following the CBOC’s November 27, 2012 meeting, District Administration received the CBOC’s recommendation regarding the use of a portion of the 2004 and 2008 bond programs remaining funds for critical facility systemic repairs. In addition, the CBAC proposed the Board consider the use of another portion of these funds for the relocation of the Alternative Learning Center program in preparation for the creation of the School for Young Men at the present ALC site.
At the January 28, 2013 regular board meeting, the Board of Trustees approved the proposed uses of the 2004 and 2008 bond program contingency funds ($2 million) for critical renovation projects as identified below, as well as facilities improvements associated with the approved Annual Academic and Facilities Recommendation (AAFR) relative to the School for Young Men, for implementation in the 2014-15 school year.
Approved Critical Systemic Repair Projects:
See a detailed description of the critical systemic repair projects by campus or select a facility in the drop-down menu to the right to view all bond program projects for a specific facility, including projects approved to be funded through contingency funds.