Fund Separation for School Projects
July 21, 2014 (Independence, IA) – The new synthetic turf (which is the beginning project in Phase One of the Final Push) is near complete and the Independence Community School District (ICSD) would like to thank all who have donated to the project thus far. The District is extremely excited to see this last leg of a central campus come to completion.
Although the long term plan for the District’s 92 acres has been known for quite some time, the board originally did not plan on completing these final phases so soon. However, over the course of several board work sessions and board meetings, the board concluded that completing the single campus was a priority. This then allows the District to dispose of the old high school property.
The ICSD Director of Finance, Lynnette Engel, states, “I want to reiterate that the money raised and borrowed for the new school is not getting used for any of the additional projects underway. We are required by our auditors to set up complete new funds for any borrowed money as well as the donations. The expenses that were paid from those funds were strictly for the construction and equipment needed for our new school. I want the community to be rest assured that funds donated for the new school were spent 100% on the new school and funds donated for the Final Push are spent 100% on the Final Push phases. The savings from the in-kind volunteers reduced the amount we needed to borrow, which was a substantial tax savings to the community as well.”
The District is doing what it can to give back to the community who continues to give so much support. Because the new school came in under budget, the District has already lowered the taxes by $0.42314/$1,000 for next year.
The timing of the Final Push phases are set to meet activity demands; hence, the new turf was part of Phase One so it would be ready for use in the fall. Look for the next project of Phase One, six tennis courts, to begin this school year. Phase Two of the Final Push includes a new parking lot, frontage road, and baseball & softball diamonds. Phase Two is projected to be completed in 2015.
For more information on the Final Push campaign, or to make a donation, please visit the Mustang Foundation’s website at www.indeemustangfoundation.com. For more information on budget differentiation, please contact ICSD’s Director of Finance, Lynnette Engel, at lengel@independence.k12.ia.us.
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