8430                                                

CAPITAL OUTLAY FUND

8430

The Capital Outlay Fund shall include appropriations for:

A.

The acquisition of real property for school purposes, including but not limited to school sites, playgrounds, athletic fields, administrative headquarters, and garages.

B.

The acquisition, construction, reconstruction, enlargement renovation, or replacement of buildings and other structures, including but not limited to buildings for classrooms and laboratories, physical and vocational educational purposes, libraries, auditoriums, gymnasiums, administrative offices, storage, and vehicle maintenance.

C.

The acquisition or replacement of furniture and furnishings, instructional apparatus, data processing equipment, business machines, and similar items of furnishings and equipment.

D.

The acquisition of school buses as additions to the fleet.

E.

The acquisition of activity buses and other motor vehicles.

F.

Such other objects of expenditure as may be assigned to the Capital Outlay Fund by the uniform budget format.

8430.1

The cost of acquiring or constructing a new building, or reconstructing, enlarging, or renovating an existing building, shall include the cost of all real property and interests in real property, and all plants, works, appurtenances, structures, facilities, furnishings, machinery, and equipment, necessary or useful in connection therewith; financing charges; the cost of plans, specifications, studies, reports, and surveys; legal expenses; and all other costs necessary or incidental to the construction, reconstruction, enlargement, or renovation.

8430.2

No contract for the purchase of a site shall be executed nor any funds expended therefore without the approval of the board of county commissioners as to the amount to be spent for the site; and in case of a disagreement between a board of education and a board of county commissioners as to the amount to be spent at the site, the procedure provided in G. S. 115-88 shall, insofar as the same may be applicable, be used to settle the disagreement.

Legal Reference: 115-83 (c) and (f)

Adopted: December 13, 1976